Gold Retreats After Record High, Profit-Taking Emerges
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Gold prices retreated after hitting a record high of over $3,500 per ounce. The drop, reaching 1.5%, followed a 10% rally this month. Traders booked profits as risk appetite improved, with equities rebounding and bonds and the dollar stabilizing. Technical indicators suggest the recent price surge may have been excessive.
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Gold prices retreated after hitting a record high of over $3,500 per ounce. The drop, reaching 1.5%, followed a 10% rally this month. Traders booked profits as risk appetite improved, with equities rebounding and bonds and the dollar stabilizing. Technical indicators suggest the recent price surge may have been excessive.
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