Gold falls below $4,000 in global markets as energy prices remain high

By Gokhan Ergocun

ISTANBUL (AA) - Gold prices fell below the $4,000 threshold on Tuesday as global energy prices remained near multi-month highs.

Spot gold traded at $3,997 per ounce at 0940GMT, down 0.48% for the day; the precious metal has declined 2.9% over the past month and 1.1% over the past year.

Silver prices fell 1.3% to $53.2 per ounce, bringing their year-on-year drop to 12.85%.

Brent crude futures rose 0.21% to $116 per barrel after topping $117 earlier this week to reach the highest level since July.

European natural gas price traded at €96 ($107) per megawatt-hour, hovering around its highest level since late 2022

Gökhan Ergöçün