Gold Prices Break Below $4,100 Support to Reach Multi-Week Lows

Key Facts

1Gold fell to a multi-week low on Thursday, breaking through the $4,100 support level.

2Rising oil prices due to signals of escalation in the Middle East conflict are weighing on gold's outlook.

Gold prices fell to a multi-week low during trading on Thursday, October 22, 2026. FXStreet reported that the precious metal broke through the critical $4,100 support level, intensifying downward pressure on its price action.

The outlook for gold was weighed down by rising oil prices, driven by signals of escalation in the Middle East conflict. The breach of the $4,100 threshold suggests continued bearish momentum as technical and geopolitical shifts dominate the market landscape.