Gold prices drop to $4,000 per ounce: What's going on
Gold prices have slipped for the third day in a row as of Thursday, October 23, 2025, now sitting just above $4,000 per ounce.
After a recent 6% slide from all-time highs, the dip is seen as a market correction—basically a pause after a 55% year-to-date increase.
Investors are watching US-China trade talks closely since any progress there could, according to analysts, calm global nerves and lower gold demand as a safe-haven.
Analyst says drop is more of a reset
Even with this drop, gold is still up 55% in 2025 thanks to what analysts call the "debasement trade," where people avoid government debt over budget worries.
Analyst Hebe Chen describes this fall as more of a reset than anything major—safe-haven demand hasn't disappeared.
Meanwhile, silver keeps falling but palladium is actually up.