Market observers noted that spot gold prices rapidly declined about $45 in a short time, currently trading at $5,452 per ounce. This significant fluctuation has drawn considerable investor attention.
Analysis of Price Movement Drivers
Experts suggest that the drop in gold prices may stem from multiple factors:
- Global market risk appetite rebounded, reducing demand for safe-haven assets.
- The US dollar index surged, diminishing gold's appeal.
- Some investors opted to lock in profits, triggering a chain reaction.