With the reopening of global markets at the start of the week, prices of gold, silver, and oil declined sharply, reflecting renewed volatility in international commodity markets. On the first trading day, gold and silver opened significantly lower, showing wide price gaps compared to their previous market closes.
Gold traded $65 below its last closing price, highlighting ongoing instability. The price of one ounce of gold fell to $4,584, while market movements remained rapid and unpredictable throughout the session. Silver followed the same downward trend. It opened with a noticeable gap, trading $5 below its previous close, before continuing to fall and recording losses of up to $75 during the day.
This sudden decline comes after a year of continuous gains in gold and silver prices. Starting last Friday, prices dropped unexpectedly, catching analysts and financial institutions off guard. As a result, the gold and silver markets entered a period of instability, prompting some global exchanges linked to precious metals trading to suspend activity temporarily. When markets reopened this week, the downward pressure continued.
Special coverage of the reopening of global markets provided. Along with several guests, offered detailed analysis from late last night until early this morning. The discussions focused on the prolonged rise in gold and silver prices over the past year and the reasons behind their sudden and sharp decline.
Economic experts explained that the wide opening gaps indicate strong selling pressure and uncertainty among investors. He noted that price fluctuations are likely to continue in the short term as markets react to global economic signals.
Meanwhile, oil prices followed a similar pattern. After closing at $69 per barrel on Friday night, oil opened at $67 and later declined further to $65.98, reinforcing concerns about broader market volatility.
