Gold prices fell today as many investors took profits after a long rally that had seen them reach record highs. When a large number of investors sold to lock in profits, this selling pressure automatically put downward pressure on prices in the global market.
In addition to profit-taking, the market also experienced a technical correction towards the end of the year. After a significant increase in the past few days, this correction is normal as the market adjusts prices and seeks a new equilibrium level before entering the new year.
Although gold prices have fallen temporarily, gold's long-term fundamentals remain strong, particularly as a safe-haven asset. Today's decline is more temporary as global risk sentiment has eased slightly and some investors have shifted to other assets. Therefore, gold prices have the potential to stabilize or rebound if global risk sentiment improves again.
The year-end decline in gold is not due to a change in fundamentals, but could also be due to window dressing strategies and short-term technical corrections. After the new year, at the beginning of the year, gold prices usually stabilize or rebound depending on global market sentiment.(cay)
Source: Newsmaker.id
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