Gold is now down almost $1,000 from its all-time high, as investors panicked on Thursday amid rising global oil uncertainty.

Latest TradingView data shows that gold has fallen sharply, dropping to $4,500 per ounce—the lowest level since February 2.

The precious metal is now down by nearly $1,000 from its all-time high of $5,589.38 recorded on January 28, 2026, highlighting a strong reversal in recent market momentum.

The decline reflects shifting macroeconomic conditions, with rising inflationary pressures—driven largely by higher energy costs—impacting expectations around interest rate policy. As markets price out near-term rate cuts, real yields have strengthened, reducing the appeal of non-yielding assets like gold.

Despite the selloff, analysts note that the current inflation trend is cost-driven rather than demand-led, which may weigh on economic growth. This dynamic could eventually support a shift in monetary policy if the inflationary shock eases, potentially restoring upward momentum for gold in the longer term.