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fxJun 30, 2026, 2:53 AM

Gold Crashes Below $3,950, Hits Seven-Month Low on Yen Strength

Gold (XAU/USD) tumbled nearly 1.5% in Asian trading on Tuesday, breaking below the key $3,950 support level to reach a fresh seven-month low. The move was attributed to a surge in the Japanese yen, which likely triggered stop-losses.

XAUUSD

Gold (XAU/USD) plunged nearly 1.50% during Tuesday's Asian session, sliding to a new seven-month low. The psychological barrier at $3,950 gave way as selling pressure intensified.

The sharp decline was linked to strength in the Japanese yen, which likely triggered a wave of stop-loss orders in the gold market. The yen's rally added to broader risk-off sentiment, weighing on precious metals.

Technical analysts note that the breakdown below $3,950 opens the door to further downside, with the next support levels unclear in the short term. No other catalysts were cited in the initial report.

Source: FXStreet Forex News