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Profit-Taking Pushes Global Gold Prices Lower Today

By Sama Marwan,

Global gold prices fell during Thursday’s trading session from a three-month high recorded yesterday, as the U.S. dollar regained its stability and strength. However, markets remain on edge, awaiting announcements from the new U.S. President, Donald Trump.

The price of an ounce of gold dropped by 0.3% today, reaching its lowest level at $2,746 per ounce after opening at $2,755 per ounce. Gold is currently trading at $2,747 per ounce.

This decline comes after gold hit a three-month high yesterday at $2,763 per ounce, approaching its historical peak of $2,790 per ounce. Gold faced resistance at the $2,760 per ounce level, prompting profit-taking and selling activity.

Today’s decline in gold prices is largely a technical correction, as the U.S. dollar stabilized against major currencies and halted its recent slide. Despite this pullback, short-term forecasts for gold prices remain positive.

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