Gold Failed as a Hedge When Tech Selloff Hit

Gold dropped below $4,100 per ounce in late June 2026 as a technology-led market crash forced investors to sell risk assets, including gold itself. The metal underperformed during the exact downturn it was supposed to cushion—equity crashes. Speculators who bought gold above $4,000 as protection watched it behave like a risk asset instead. This typically resolves once forced selling ends, but timing remains unpredictable.