Gold prices retreated from a record high of $4,526 per ounce during Asian trading hours on Wednesday as traders engaged in profit-taking. This pullback comes amid a backdrop of bullish market sentiment, with investors reassessing their positions after the precious metal's recent surge. The XAU/USD currency pair has shown significant volatility, reflecting ongoing shifts in trader sentiment.
Contributing to the decline in gold prices are the positive US Gross Domestic Product (GDP) data releases, which bolstered the USD against other currencies. As the exchange rate between the USD and EUR remains robust, the stronger dollar could exert further downward pressure on gold. Analysts will be closely monitoring these developments to gauge the potential for future price movements in the gold market.
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Data Source: FX Killer Analysis Team Updated: 2025-12-24 04:10
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.