Global Gold Price Falls Below $4,000 Mark, Spot Price Briefly Touches $3,956 to Hit Four-Month Low - finance.biggo.com

AI desk brief

Gold sold off sharply on Oct. 30, briefly touching $3,956.09/oz intraday and breaking below the key $4,000 level for the first time in four months; COMEX December gold fell as much as 1.64% to $3,965.30/oz. Silver weakened more aggressively, plunging as much as 4.53% to below $50/oz for the first time since November 2025, underscoring the higher beta of silver to macro growth and rate expectations.

The article frames the move as driven by rising oil prices, renewed US inflation pressure, and expectations the Fed may need to tighten further, raising the opportunity cost of holding non-yielding metals. UBS’s Giovanni Staunovo said higher energy prices have intensified inflation concerns and weighed on gold, while traders may also see technical selling/stop-loss flow after the break below $4,000.