New york: Gold prices in the world commodity markets have witnessed a decline, falling below the $4,000 mark, APA-Economics reports. This shift occurred on November 1, impacting both gold and silver prices globally.

According to Azeri-Press News Agency, the Comex exchange recorded a decrease in gold futures, with an ounce dropping by $19.40, or 0.48%, bringing the price down to $3,996.50. Similarly, the price of spot gold saw a reduction of $21.62, or 0.54%, settling at $4,002.92. Silver futures also experienced a decline on the Comex, with an ounce decreasing by $0.46, or 0.94%, to $48.16.

The recent decrease in prices has been attributed to the strengthening of the US dollar and a growing preference among investors for more risky assets. This shift in market dynamics has influenced the downward trend in precious metal prices.