SINGAPORE: Gold prices witnessed a sharp fall in the international market on Tuesday, marking one of the biggest declines in recent history.
According to market reports, the price of gold dropped by nearly 10% per ounce during trading.
Gold fell by around $458 per ounce, bringing it down to nearly $4,435 per ounce.
Analysts also noted that in just a few days, gold has become cheaper by almost $1,000 per ounce, raising concerns among investors and traders.
Meanwhile, global oil prices also recorded a major decline of up to 4% in international trading.
Reports said Brent crude was trading near $67 per barrel, while US WTI crude was being sold around $63 per barrel.
Market experts say the sudden drop in gold and oil prices is linked to shifting investor sentiment and changing global economic expectations.