Gold falls below $4,000 as tech selloff spreads
Gold fell 1.2% to $3,971 in InvestingLive’s October 30 European session report, even as Treasury yields and the dollar declined. Justin Low linked the broader selloff to renewed concern over AI spending after Amazon’s earnings; Nasdaq futures were down 2.4%. He suggested margin calls and liquidation fears might also be weighing on gold. That explanation remained tentative, with Wall Street’s later trading the next test for the broader selloff.
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Gold fell 1.2% to $3,971 in InvestingLive’s October 30 European session report, even as Treasury yields and the dollar declined. Justin Low linked the broader selloff to renewed concern over AI spending after Amazon’s earnings; Nasdaq futures were down 2.4%. He suggested margin calls and liquidation fears might also be weighing on gold. That explanation remained tentative, with Wall Street’s later trading the next test for the broader selloff.
Thesis: Justin Low linked broad market selling to renewed AI spending fears.
Counter view: Limitation: Low’s suggested liquidation pressure on gold was tentative.
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