Mjtraders

Gold retreats as the US dollar strengthens Gold fell by about 2% today as the US dollar recovered from its lowest levels in a month, increasing pressure on the precious metal. Spot prices reached around $4,027 per ounce, but they still remain above the psychological level of $4,000. Despite this decline, gold is on track to end July higher by nearly 0.5%, marking its first monthly gain after several months of losses. Weaker US inflation data and falling oil prices have also supported gold recently. 📌 Summary: The current pullback may be profit-taking and a short-term correction, while gold’s trend remains linked to the strength of the US dollar and expectations for interest rates. #GoldRetreats