Gold fell slightly at the start of the Asian session, catching its breath after breaking a new record high above a key psychological level. Several technical indicators pointed to overbought conditions after consecutive rallies, prompting profit-taking and pushing prices back toward their highs.
Its safe-haven appeal eased slightly after signs of progress toward a peace agreement in the Middle East, although global concerns remain significant. Throughout the year, gold's trend remained supported by central bank buying and concerns about US monetary and fiscal policy. The US dollar remained relatively stable, while platinum, palladium, and silver weakened slightly but remained near their peaks.
At the time of writing, Gold Price was at $4,021
Disclaimer:
This article is analytical and not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
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