Gold Price Below $4,000: Three-Month Low at $3,987 as the…
By Tobi Opeyemi Amure
AI summary of the source article
Spot gold dropped to a three-month low of $3,986.74 before rebounding above $4,014. The drop was driven by forced selling as traders liquidated precious metals to cover losses from a selloff in AI-related stocks.
Key facts
- Spot gold touched a three-month low of $3,986.74 on 23 October after settling down 2.8 percent at $4,024.55 on Thursday.
- Traders liquidated precious metals to cover losses after the Nasdaq fell more than 2 percent amid an AI-related stock selloff.
- The Federal Reserve is widely expected to hold rates at 3.75-4.00 percent in October, with market pricing indicating an approximate 80 percent chance of a December hike.
Source excerpt · FinanceFeeds
Updated 23 October 2026. Spot gold fell to $3,986.74 in Asian trade on Friday, a three-month low and the first print below $4,000 since July, before bouncing to about $4,014 by 03:30 GMT (FXStreet). Thursday's 2.8 percent drop to $4,024.55 was the lowest close since 20 July (Investing.com). Verdict: this is forced selling, not a change of view. Traders dumped metals to cover losses in an AI-led st…