Gold Hit $4,000, Then Reality Set In

Gold breached $4,000 per ounce on October 8, buoyed by the US shutdown and French political unrest. By November 4, it fell 1.5% to $3,939 as those catalysts faded and the dollar strengthened. The pullback exposed how round-number breakthroughs attract speculative trading that reverses when event risk subsides—though the underlying structural concerns, sovereign debt and central bank demand, remain intact.