Gold futures on the Comex exchange have slipped below the $4,000 per troy ounce threshold for the first time since July 1, marking a notable technical breakdown for the precious metal.
August contracts traded at $3,992.9 per ounce, down 2.94% in the session, as selling pressure persisted across the complex.
This latest slide follows a period of volatility where gold had previously reclaimed the $4,200 level in early July, only to face renewed selling pressure.
The move underscores a broader loss of momentum in the gold bull market, which has been on track for a fourth consecutive weekly decline.
The breakdown below the psychological $4,000 level signals that buyers are stepping back amid weakening spot demand and shifting risk sentiment.
This latest slide follows a period of volatility where gold had previously reclaimed the $4,200 level in early July, only to face renewed selling pressure.
The retreat from those highs highlights the fragility of the recent rally and suggests that the path of least resistance remains to the downside in the near term.