Spot gold falls 1.0% to $3,906.71 an ounce

The size of the move matters less than its direction: a 1% intraday slide signals that gold's recent bid is softening, which tends to ripple into tokenized gold and other precious-metal RWA products that track spot pricing closely. For holders of gold-backed on-chain assets, the relevant question is whether this is a brief pullback or the start of a deeper repricing. Whether the decline extends into the next session is the open question.