Precious metals plummeted on Wednesday, with spot gold falling below $4,000 per ounce for the first time since November 2025 as investors assessed market expectations for interest rates and the US dollar. The gold spot price declined 2.72% to trade at $3,998.99 per ounce at 2:57 pm CET. Silver dropped 4.70%, changing hands at $58.68 per ounce at the same time. Meanwhile, platinum also traded with losses, down 3.91% at $1,600.30 per ounce at 2:57 pm CET, while palladium slipped 3.53% to $1,174.98 per ounce.