Gold's Record High Didn't Last Because Fear Did

Gold hit $4,000 per ounce in October after the US government partially shut down and France faced political turmoil. By November, it dropped back to $3,939 as those crises eased and the dollar strengthened. The retreat showed how round-number milestones attract quick traders who bail out when the panic fades—but the deep worries that drove the rally, government debt and central banks buying gold, haven't gone away.