Gold prices have broken below the critical $4,000 per ounce threshold, marking a significant technical breakdown for the precious metal.
The slide reflects weakening spot demand and a broader loss of momentum in the bullion market.
41 an ounce. The breakdown is the first time prices have traded below $4,000 since November, signaling a potential shift in the near-term trend.
On the Multi Commodity Exchange in India, gold futures for August delivery fell ₹32 to ₹1,41,238 per 10 grams.
The modest decline in local contracts mirrors the global softness, as traders digest the breach of the psychological $4,000 level.
This move follows a sharp 3.4% session drop that saw spot gold trade as low as $3,968.41 an ounce.
The breakdown is the first time prices have traded below $4,000 since November, signaling a potential shift in the near-term trend.