Gold is reportedly set for its biggest weekly drop, with the reason for the decline attributed to various factors including inflation and rate-hike worries, as well as higher oil prices. The duration since the last such significant drop varies across reports, with some stating it is the biggest drop in six weeks, while others claim it is the largest since early June, the start of the Covid-19 pandemic, or even as far back as 1983. The magnitude of the drop is also reported to be significant, with some outlets noting it as the steepest daily drop since 1983.