Gold fell below $4,000 per ounce for the first time since July 2026. The metal posted its worst weekly loss in more than four months.
The sell-off was attributed to rising energy costs. Brent crude climbed above $116 a barrel, intensifying global inflation fears and raising expectations of further central-bank rate hikes.
The decline challenges gold’s traditional role as a safe-haven asset. Some investors reportedly sold holdings to cover margin calls amid broader market declines. The drop came despite escalating Middle East tensions, as rising bond yields made non-yielding gold less attractive.