Lowest in 7 months… Gold records unprecedented losses

Gold recorded unprecedented losses on Wednesday afternoon, the lowest since November 2025, as the price of an ounce fell below $4,000, according to Reuters.

These losses come after gold prices fell earlier today to their lowest level in nearly two weeks, affected by the rising dollar and increasing investor bets on a rise in US interest rates.

Gold fell 1.1% in spot trading to $4,064.01 an ounce, after earlier hitting its lowest level since June 11, while US gold futures for August delivery fell 1.7% to $4,080.80 an ounce.

This comes amid rising market expectations of a tightening of US monetary policy, as data from the CME FedWatch tool showed traders expecting three interest rate hikes during 2026, compared to previous expectations of only one.

The strength of the dollar also supported the pressure on the precious metal, as it reached its highest level in more than a year, making gold more expensive for buyers outside the United States.

As for other precious metals, silver fell 1.6% to $61 an ounce, platinum dropped 1.2% to $1,632.04, and palladium declined 1% to $1,225.35 an ounce.

Shafaq.com