The move marks a sharp decline in the precious metal’s spot price, with the quoted level indicating the latest intraday fall referenced in the update.
Spot gold fell more than 2% to $4,238.85 per ounce in the latest market update. The move points to a notable decline in the real-time cash-market benchmark for gold, a price investors often watch as a gauge of demand for defensive assets during shifts in macroeconomic sentiment.