Gold Price Today: USD Strength Causes Sharp Decline
Global gold prices have sharply decreased as the USD Index rose to 105.5 points, marking the dollar's highest level in over four months.
The decline in gold is largely driven by the strength of the USD and rising Treasury yields.
Additionally, a steep drop in crude oil prices to $68 per barrel and gains in U.S. stocks have shifted investor interest toward energy and equities.
Consequently, investment in precious metals remains low, further pressuring gold downward.
The short-term bearish trend is expected to continue, with more selling anticipated
The decline in gold is largely driven by the strength of the USD and rising Treasury yields.
Additionally, a steep drop in crude oil prices to $68 per barrel and gains in U.S. stocks have shifted investor interest toward energy and equities.
Consequently, investment in precious metals remains low, further pressuring gold downward.
The short-term bearish trend is expected to continue, with more selling anticipated
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