Gold fell by more than 2% on Monday, recording its lowest level in a week. An ounce of gold fell by 2.3% to $2,336.29, marking the biggest drop in over a year. This comes at a time when concerns about the Middle East are waning, prompting investors to cut back on safe-haven purchases.
In this context, it is worth recalling that geopolitical tensions and large-scale purchases by central banks, notably the Bank of China, helped push up the price of gold, which reached a record high of $2,431.29 per ounce on April 12.
