Gold prices have sharply declined, dropping nearly 20% from their earlier record highs. The metal recently fell to around $4,372 per ounce, slipping below $4,400 and marking its steepest weekly loss in over four decades.
This downturn is driven by shifting market expectations, with investors now anticipating prolonged high interest rates due to persistent inflation. Rising bond yields and a stronger dollar have further reduced gold’s appeal, even amid global tensions.
Instead of acting as a safe haven, gold has faced heavy selling pressure. Traders are now closely monitoring key support levels as prices approach multi-month lows.
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