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>>Gold Prices Fall: Precious Metal Tumbles to Approximately $4,900 Amid Escalating Selling Pressure

Gold Prices Fall: Precious Metal Tumbles to Approximately $4,900 Amid Escalating Selling Pressure

crypthub

about 2 hours ago

Price Decline and Technical Signals

Gold slid to about $4,900, breaking key moving averages. RSI fell oversold while volume spiked, showing strong selling. A break below $4,900 may expose the next support near $4,750.

Macroeconomic Drivers

Robust data have hardened central‑bank hawkishness, pushing expectations of higher real rates. Higher rates raise gold’s opportunity cost and shift funds into equities. A stronger dollar adds further pressure on the metal.

Market Impact and Sector Performance

Mining stocks fell harder than spot gold, reflecting amplified producer risk. Silver dropped more sharply, while platinum and palladium followed industrial demand trends. Asian retail buying was too weak to offset institutional selling.

Long‑Term Outlook

Historically, similar drops precede a rebound, keeping gold’s store‑of‑value role intact. Lower prices improve long‑term valuation, attracting contrarian interest. A shift in rate policy or rising geopolitical tension could halt the decline.