Gold falls below $4,000 for 1st time since November 2025
Gold just dropped below $4,000 an ounce for the first time since November 2025.
Spot gold is now at $3,985.89 per ounce, and US gold futures for August are at $4,001.60.
The main reason? The US dollar is super strong right now, its highest in over a year, which makes gold pricier for anyone using other currencies.
Traders price in September Fed hike
A possible Federal Reserve rate hike is adding extra pressure, with traders betting there's a good chance rates will go up in September.
Treasury Secretary Scott Bessent supports lowering forward rate guidance but says flexibility is key because inflation is still a concern.
Investors are waiting on an important inflation report (the US Personal Consumption Expenditures), which could shape where things go from here.
For other metals: silver and platinum dipped slightly, while palladium managed a small rise this morning.