Gold dives 5% in sharp decline on March 3
Gold suffered a sharp decline of about 5% on March 3, while silver slid over 10%.
Even with this dip, gold has gained 19% this year (2026) and could offer a buying window before key US jobs data (March 6) and the Fed meeting (March 17-18).
Why did gold crash?
A stronger US dollar and rising Treasury yields pushed investors toward cash instead of gold.
Plus, oil prices spiked after the Strait of Hormuz was closed, making inflation fears worse and lowering chances of Fed rate cuts—both factors that hit gold hard.
Analysts see potential for gold to rebound
Analysts aren't too worried. Bob Haberkorn at RJO Futures says ongoing global tensions could help gold bounce back soon.
Some predict gold could top $5,600 if Middle East issues continue—and big banks like BNP and JPMorgan see it going above $6,000 by the end of 2026.