Gold price crash, March 23 -- The returns amassed by bullion investors in 2026 have faded as gold prices are in a meltdown mode amid boiling crude oil prices, inflation fears and the scope of higher for longer interest rates by the US Federal Reserve.

From their record high levels of $5,595.46 hit in January this year, US spot gold prices have crashed 22%, suggesting that prices are now officially in the "bear territory". An asset is considered to enter a bear zone when it falls 20% or more from its recent high.

Not just that, all gains recorded by gold in 2026 stand cancelled as prices slumped below $4100 in the intraday deals. The bullion had closed 2025 at $4,315 an ounce.

"The decline is largely driven by rising inflation risks, wh...