Gold did not drop today; instead, it actually rose by about 0.76% to around $4002.8 per ounce. However, on the previous day, October 9, 2025, gold prices dropped by approximately 1.66% to about $3975.68 per ounce as the price pulled back from historic highs it hit earlier (over $4,000 per ounce). The drop was attributed to investors taking profits, a stronger US dollar that made gold more expensive for overseas buyers, and easing geopolitical tensions following a ceasefire agreement between Israel and Hamas. Additionally, expectations of US Federal Reserve interest rate cuts continue to support gold in the longer term despite short-term fluctuations.
In summary, gold's price dip around October 9 was mainly due to profit-taking after a rapid rally, a stronger dollar, and reduced safe-haven demand with easing geopolitical risk, even though underlying economic uncertainty and Fed policy remain supportive.