Gold prices dropped below $4,000 per ounce for the second time this year, reaching a three-month low due to margin calls, rising oil prices, and increased odds of Federal Reserve rate hikes. This decline challenges gold's traditional role as a safe haven during stock market drops, as investors sell gold to raise cash amid market pressures. Brent crude oil prices surged above $117, fueling inflation concerns and pushing up Treasury yields, making gold less attractive. Key upcoming events—the Fed's rate decision and inflation data—will likely influence gold's next move, with potential for either a rebound or further decline.
Gold prices on Pluang are trading near their 52-week low, with GLD at USD 366.61 as of Oct 24, 2026 19:41 WIB, down 0.65% in one day and far below its 52-week high of USD 495.90. This contrasts sharply with the recent surge in Brent crude oil prices above $117, which has contributed to inflation concerns and Treasury yield increases. The current investor sentiment on Pluang shows a majority buying interest at 65%, despite the recent price decline, indicating mixed views on gold's safe haven status amid market volatility.
Economist Peter Schiff attributes gold's $116 drop on October 22 to stock market turmoil and fears of a tech sector crash, especially related to leveraged AI trades. Despite the sell-off, Schiff believes gold will ultimately benefit from a stock mark...
Investors have directed $499.8 million into the SPDR Gold MiniShares Trust (GLDM), favoring it over the larger SPDR Gold Shares (GLD) due to its significantly lower annual fee of 0.10% compared to GLD's 0.40%. Both funds hold physical gold, but GLDM ...
