Gold Price Falls Below $3,886 as Saxo Warns of Further Losses
Gold ended October at $3,875 an ounce, its worst monthly performance since the 2008 financial crisis. The gold price fell 3.6% in Friday’s final session after breaking below support near $3,970 and settling under $3,886, a low last recorded in October 2025. Saxo Bank’s Ole Hansen warned that the breakdown could leave gold vulnerable to further losses. Traders will be watching whether the gold price can reclaim the broken levels or whether selling pressure continues.
Neutral
The article concerns gold, not cryptocurrencies, and provides no direct evidence of changes in crypto flows or positioning. Gold’s sharp decline and technical breakdown may influence broader risk sentiment, but the effect on Bitcoin and other crypto assets is uncertain: traders sometimes treat gold and crypto as competing stores of value, while at other times both respond similarly to changes in the US dollar, real yields and risk appetite. In the short term, crypto traders may monitor those macro indicators and any reaction in Bitcoin, rather than treat the gold move as a standalone trading signal. Over the longer term, the report alone does not establish a sustained change in crypto market stability or direction. A neutral assessment is therefore most appropriate.