Gold Falls Below $4,000 Amid Stock Sell-Off

Gold prices has fallen below $4,000 per ounce, the lowest level since mid-July, due to investors selling the precious metal amid a wave of stock market declines and increased demand for U.S. bonds as a safe haven. This comes alongside a decrease in expectations for U.S. interest rate hikes to less than 10% at the upcoming meeting, despite inflation remaining high due to elevated oil prices, especially with rising geopolitical tensions in the Middle East, where Brent crude exceeded $113 per barrel. Gold has declined by more than 20% since the start of the U.S.-Iran war in February, and ongoing tensions in the global markets continue to impact the performance of the precious metal.

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