NYSE:NEM 28 October 2025 - 21 December 2025

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 from its record peakts2.tech. Market watchers say the gold sell-off wasn’t entirely unexpected – after such a meteoric rise, a pullback was bound to happen. Since the start of 2025, gold had been on a one-way trajectory upward, rallying from roughly $2,650 in January to well above $4k by late Octoberts2.techts2.tech. Even after this week’s correction, the metal is still up roughly 50–60% year-to-date, on track for its strongest year since 1979reuters.com. “Gold’s strength reflects an extremely positive macroeconomic and geopolitical background for safe-haven assets,” notes Matthew Piggott of Metals Focus, highlighting the anxiety that drove the metal’s risets2.tech. In other words,