[Gold Falls Below $4,000, Analysts Say $3,850 May Be Key Support]
Gold prices fell below $4,000 per ounce on Thursday, retreating to below $3,950, as a stronger dollar and profit-taking by investors followed the ceasefire agreement between Israel and Hamas. Analyst Tai Wong stated that although the ceasefire agreement has eased tensions in the Middle East, confidence in the gold market has not significantly weakened. He noted that the previous rally in gold prices was too rapid, and $3,850 might become the real support level.