International Gold Down By Nearly $1,000 From Record High As Investors Panic

International gold witnessed a sharp decline today, extending its selloff by around $400 per ounce in the past few hours.

Latest data on TradingView suggests that bullion has plunged to $4,500 per ounce for the first time since February 2. It is now down nearly $1,000 since hitting its record-high of $5,589.38 on 28 January 2026.

Meanwhile, silver has dropped to as low as $72 per ounce.

So traders on X wrote that the current inflationary trend is largely cost-driven rather than demand-driven. This type of inflation can weigh on economic growth beneath the surface, even as headline price levels rise.

Meanwhile, others suggested that once the external shock—such as elevated oil prices—begins to ease, economic conditions could shift again, potentially reviving expectations for monetary easing and improving the outlook for gold.