Gold slips below $4,000 as investors move to Treasuries
Business
Gold just slipped below $4,000 an ounce for the first time since July, after dropping nearly 3% in a day.
Investors are ditching gold and AI stocks for safer bets like US Treasuries as the stock market takes a hit.
Justin Lin calls selloff liquidity driven
Analyst Justin Lin calls it a "liquidity-driven selloff": basically, people need cash fast when markets tumble.
Uncertainty around AI investments means almost no one expects a Fed rate hike soon.
Meanwhile, rising tensions in the Middle East are pushing up oil prices and fueling inflation worries, which is making gold less of a safe haven than usual right now.