Gold prices have tumbled from recent records. What’s behind the losses?
October 22, 2025
Less than a day after gold soared to another record high, prices for the precious metal plunged — marking the biggest sell-off in years. Gold futures in New York closed at a record $4,374 per troy ounce on Monday, before falling more than $250 (or 5.74%) Tuesday. That’s the largest, single-day percentage drop seen since September 2011, according to data in FactSet. And despite some brief rebounds, losses continued to pile up Wednesday. Prices are still up more than 50% since the start of 2025. Gold sales often rise sharply amid wider economic uncertainty, as anxious investors seek a “safe haven” for their money.