The world of bullion trading has seen its fair share of crests and troughs, but few events have left as deep a mark as the following five instances when Gold prices plummeted, sending shockwaves through global markets.
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Black Monday (1987): Infamous in the annals of stock market history, Black Monday witnessed a global crash, affecting even the Gold market. Gold prices dipped by over 5%.
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Gold Price Crash (1999-2001): Triggered by the announcement of the Bank of England’s sale of a massive amount of Gold reserves, this period witnessed the price of Gold free-falling from $282 to $255 per ounce.
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Global Financial Crisis (2008): Gold, traditionally a safe haven during financial stress, saw its price drop almost 30%.
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April 2013 Crash: Dubbed as the worst Gold crash in 30 years, Gold prices to plunged to a two-year low of $1,321 per ounce.
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COVID-19 Pandemic (2020): The pandemic saw Gold prices fall by nearly 15% in March 2020. However, Gold’s safe-haven status was reinforced as prices rebounded to a record high within months.
These instances serve as stark reminders of the volatility inherent in commodity markets, even in what is considered the most stable amongst them – Gold. Read More
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