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Gold Enters Bear Market for First Time Since 2022, Down 20% in 91 Days — Fastest Decline Since 2008

2026-06-11 05:13:20

XAU-0.51%

According to COMEX data, on June 10, August gold futures plummeted 3.6%, closing at $4,133.30 per ounce. The decline marks gold's first bear market since 2022, with prices falling more than 20% from March's peak in just 91 days — the fastest drop since the 2008 financial crisis. U.S. May consumer inflation rose to 4.2% year-over-year, dampening expectations for Federal Reserve rate cuts and spurring bets on potential hikes, pushing Treasury yields higher and reducing gold's appeal.

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