Gold prices are experiencing a significant correction on Monday (29/12), with losses of around 4.5%, continuing the sharp decline that followed last week’s historic highs.
Specifically, gold is trading at $4,334.42 per ounce, as investors engage in massive profit-taking, securing gains after the strong rally that had previously dominated the precious metals market.
Declines extend beyond gold to other metals as well
The correction is not limited to gold alone, but extends to other metals as well. Silver is down 8.09%, with its price settling at $71.37 per ounce, while platinum is posting even larger losses, declining 14.01% to $2,142.10.
Even more intense pressure is hitting palladium, which is recording a steep 15.56% drop, with its price settling at $1,708.50 per ounce. These developments reflect the increased volatility prevailing in precious metals markets following the recent sharp rally.
