# SpotGoldBreaksBelow400

On June 24, spot gold broke below the key $4,000/oz level, hitting a low of $3,959 — its lowest since November 2025. Rising Fed rate hike expectations pushed the dollar index to a 13-month high, increasing the opportunity cost of holding gold. The metal has retreated nearly 30% from its January peak of $5,596. Multiple investment banks have cut their gold price forecasts. Near-term support is seen in the $3,700-$3,900 range.