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Gold falls over 2% as safe-haven demand wanes
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Gold dropped more than 2% as risk appetite improved, inflation fears eased and safe-haven demand weakened.
Gold prices fell over 2% recently, slipping below the psychologically important $4,000/oz mark as risk appetite rebounded and safe-haven demand eased. The decline follows weaker inflation expectations, stronger equity performance and a firmer U.S. dollar. Traders noted a technical breakdown in the metal’s trend and suggested that the next support might lie closer to $3,900. Analysts said the move reflects shifting sentiment in commodity markets and may erode the hedge appeal of gold in near-term portfolios.