Gold fell below $4,000 per troy ounce for the first time since November as the U.S. dollar climbed to its highest level in more than a year.
The precious metal opened on Wednesday at about $4,130 an ounce, down 0.5 percent from Tuesday’s closing price, before sliding to around $3,990. It later moved back above the $4,000 threshold.
Gold prices have more than doubled since late 2023, repeatedly setting record highs in a sustained rally. That momentum, however, began to fade in late January, shortly after gold hit an all-time high near $5,600 an ounce. By June, the metal had fallen more than 20 percent from that peak….