FX.co ★ Gold Slides Toward Three-Month Low

Gold prices fell toward $4,000 an ounce on Friday, nearing their lowest level in almost three months as an intensifying selloff in technology and artificial intelligence stocks forced traders to liquidate precious metal holdings to cover losses elsewhere. The broader equity downturn deepened this week after Meta Platforms’ plans to boost capital expenditures rekindled worries that technology firms could take on more debt to finance the AI buildout. Rising oil prices added further pressure on gold by stoking inflation fears and reinforcing expectations that interest rates may remain elevated for an extended period. At the same time, mounting doubts about the durability of AI-related investment—one of the main engines of recent US economic growth—led markets to pare back forecasts for additional Federal Reserve rate hikes, offering some potential support for precious metals.