Analysts say gold price falling below $5,000 triggers a chain sell-off

After the gold price fell below $5,000 per ounce, selling pressure intensified, and spot gold once dropped to $4,878 per ounce. Fawad Razaqzada, a market analyst at City Index and FOREX.com, stated that the downward movement triggered stop-losses below $5,000, leading to a chain reaction of selling and causing the price to plunge sharply in a short period.