Gold fell below $4,000 an ounce, sliding to the lowest in more than three months, as investors sold the precious metal in a cross-market stock rout.

Bullion dropped as much as 0.9% to under $3,990 an ounce, the lowest since mid-July, after falling almost 3% on Thursday. It later pared losses. Selloffs in the stock market deepened on Friday, while Treasuries largely held gains from the previous session as investors rotated out of artificial intelligence-related companies and sought safety in US bonds.