Gold plunged below $4,000 per ounce on June 25, 2026, trading at $3,976.90 and marking its first sustained break beneath that psychological level since November 2025. The precious metal has tumbled 29 percent from its January 29 record high of $5,595 and is down roughly five percent year-to-date. The selloff accelerates as markets now price 68 percent odds of a September Federal Reserve rate hike, surging from just 29 percent a week ago following hawkish signals from the central bank’s June meeting.
The stronger US dollar and rising real Treasury yields are hammering the non-yielding metal, while geopolitical support has evaporated. Technical indicators show the $4,000 zone flipping from support to resistance, with moving averages converging toward a death cross. Analysts flag $3,440 as the next downside target based on Fibonacci extensions. Thursday’s May PCE inflation data could determine near-term direction.
**
FXnCO Insight
** Gold traders should watch for a daily close back above $4,000 to signal reversal potential, otherwise bias remains bearish toward the $3,440 extension level.
Source: Finance Magnates