Gold Falls Below $4,600

The decline in gold prices could lead to fresh demand, with $6,000 as the next potential target, according to a commodities expert.

An employee displays gold bars at a Korea Gold Exchange store in Seoul, South Korea, on Jan. 26, 2026. Jung Yeon-je/AFP/Getty Images

Spot gold prices continued to decline in early morning global trade on Monday, slipping below the $4,600 per ounce level before pulling back.

Gold prices crashed by over 9.8 percent on Friday after hitting a peak of around $5,595 per ounce on Thursday. As of 9:05 p.m. ET on Sunday, the bullion was trading at $4,723, down 2.92 percent from Friday’s close, after hitting a low of $4,586. Silver prices were down by 1.53 percent, trading at $83.40 per ounce.