From Record High to Plunge: Gold Drops Below $4,000, Fueling Market Jitters
Gold’s Record Rally Meets a Sudden Drop Only a week ago, gold was the year’s star performer – blasting through all-time highs above $4,300 per ounce. On October 20, spot gold hit an unprecedented ~$4,381/ozreuters.com, capping a historic run fueled by global turmoil and investors seeking safety. By Oct. 27, that momentum dramatically reversed: prices plunged below $4,000 for the first time since early Octoberreuters.com. In intraday trading, gold touched around $3,970/oz on Monday, the lowest level in three weeks, before settling near $4,002 by afternoonreuters.com. The swift drop marked gold’s steepest one-day slide in nearly 5 years, wiping out a chunk of the gains