Gold experienced its sharpest weekly decline in 43 years.

Falling 10.5% in just one week, it dropped to $4,490. You'd have to go back to 1982 to see a worse week for gold.
But what makes this situation historically exceptional is this:
All of gold's major crashes in the past were based on a clear fundamental reason.
-1982: The Fed raised rates to 20% to end inflation. Fundamentally negative for gold.
-2013: The Fed signaled it would reduce bond purchases. Negative for gold.
-2022: Aggressive rate hikes came. Negative for gold.
In March 2026, however, the picture is different:
War is ongoing. Inflation is rising. Oil refineries are burning. The US has three warships deployed.
These are all developments normally considered positive for gold. Yet despite this, gold experienced its worst week since 1982.
So what's actually happening?
Three separate pressures kicked in simultaneously:
-The dollar surged sharply due to safe-haven flows. This made gold more expensive for buyers outside the US.
-Commodity funds were forced to sell gold to meet margin calls on oil positions.
-The CME increased margin requirements for gold. This led to forced liquidation of leveraged positions.
The last time gold had such a bad week was 1982. Within the next 12 months, gold had risen 50%.
History doesn't have to repeat exactly. But having 43 years between such declines shows this isn't an ordinary pullback.