Gold Drops Amid Stock Market Crash Triggered by DeepSeek
Gold prices fell more than 1% on Monday, retreating from near-record highs reached in the previous session, as investors liquidated bullion positions amid a broad market sell-off driven by growing interest in Chinese artificial intelligence company DeepSeek.
Spot gold dropped 1.15% to $2,740.13 per ounce, pulling back from Friday’s near-record highs. Meanwhile, U.S. gold futures declined 1.2% to $2,744.40 per ounce.
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Sharp declines in global stock markets spurred risk aversion across other asset classes, with U.S. Treasury yields falling to a three-week low and the U.S. dollar index reaching its lowest levels since December 18. This sell-off is largely driven by the broader stock market rather than interest rates or currencies. We are witnessing a certain degree of liquidity shortage.
The sell-off occurred ahead of the Federal Reserve’s first meeting of the year, where policymakers are expected to keep interest rates steady on Wednesday, according to the CME FedWatch tool.
Key Data to Watch
Investor attention will focus on any signals regarding future monetary policy decisions, as President Donald Trump begins his second term, with expectations that his tariff policies could fuel inflation.
Safe-haven demand will continue to support gold. A break through record to highs is possible as uncertainty persists over the Trump administration’s policy agenda.
In other metals, spot silver fell 1.5% to $30.15 per ounce after posting a 0.9% gain last week. Palladium dropped 3.1% to $957.16 per ounce, while platinum slipped 0.53% to $943.95 per ounce.

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