Global commodity markets remain under sustained pressure, with both gold and crude oil prices posting sharp declines and failing to establish a stable trading range.
In the latest session, gold prices fell steeply, with the per-ounce rate dropping by $172 to $4,721. During intraday trading, gold lost more than 3 per cent, reflecting weakening investor sentiment amid ongoing market uncertainty.
Crude oil prices also recorded notable losses. Global benchmarks declined by up to 4 per cent, with Brent crude trading around $67 per barrel and WTI crude hovering near $63 per barrel.
Oil Fall, Gold & Silver Fall; has the Iranian war Threat dissipated. Dont think so, structural tightness in Precious metals should continue post correction as we are seeing the biggest Infra buildup/Reshoring in decades with secular trend of Central Banks adding Gold in tact. pic.twitter.com/Pkuhi8o89r
— Navroop Singh (@TheNavroopSingh) February 2, 2026Market analysts attribute the continued downturn to a combination of global economic concerns, a strengthening US dollar, and investor profit-taking. These factors have collectively weighed on demand for both precious metals and energy assets.
Read: Gold Prices Swing Wildly in Pakistan and Global Markets
Experts caution that commodity markets may remain volatile in the near term as investors closely track macroeconomic signals, interest rate expectations, and currency movements for further direction
