Global Gold Prices Plummet, Falling Below $5,000 Again

Global gold market prices have sharply declined, falling below $5,000 per ounce again amid mounting pressure from uncertainties surrounding U.S. interest rate directions. On February 13, 2024, reporters noted that spot gold prices dropped dramatically to below $5,000 per ounce on Thursday night. Spot gold decreased 0.1% to $4,915.40 per ounce at 6:31 PM Eastern Time, while April gold futures also dropped 0.1% to $4,937.60 per ounce. Investors are currently watching upcoming inflation data, and uncertainty about future U.S. interest rate reductions remains a significant pressure factor. Gold has been facing volatility since its rapid decline in late January, primarily driven by U.S. interest rate dynamics and concerns following potential changes in Federal Reserve leadership.