Gold rises but heads for worst monthly drop since 2008 crisis
By Ashitha Shivaprasad
Published on March 31, 2026.
Gold rose on Tuesday, but it is set for its steepest monthly decline since October 2008 due to inflation worries and expectations of higher interest rates due to the impact of the Iran war. Spot gold XAU= was up 1.4% to $4,572.89 per ounce, after hitting its highest price since March 20 earlier in the session. The U.S. dollar eased but remained on track for a monthly gain. Peter Grant, vice president and senior metals strategist at Zaner Metals, stated that if anything happens that increases the likelihood of a Federal Reserve rate hike, it could see downside in prices. The price of gold fell 13.3% in March due to higher oil prices triggered by the Middle East war.
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