Spot gold falls 2.6% to $4,032/oz, briefly nearing $4,000 mark

The move is notable less for the headline decline than for its breadth: silver's steeper drop and the sharp fall in the Philadelphia Gold and Silver Index point to a sector-wide repricing rather than an isolated gold story. The timing around U.S. CPI data suggests macro positioning, not physical-market fundamentals, drove the session. Whether the near-touch of $4,000 proves a technical floor or a pause in a deeper unwind is the open question, and the index's close will be the tell for equity-linked exposure.