The recent movements in the gold market reflect significant fluctuations, notably as prices dipped for the second consecutive day post a historic breakthrough above the $3500 per ounce threshold. U.S. President Trump’s conciliatory signals prompted a shift in investor sentiment, leading many to realize profits after a substantial rally. During early Asian trading, gold prices experienced a drop of up to 1.9%, following a 1.3% decline the previous trading day. The decline emerged swiftly after hitting a peak of $3500.10, attributed to improved risk appetite as equities regained momentum, accompanied by a steadier bond market and U.S. dollar stabilization. Notably, gold has surged over 25% year-to-date, driven by escalating trade tensions and bleak economic forecasts that heightened demand for this classic safe-haven asset. Continued substantial acquisitions by central banks and interested gold ETF investors have also played a pivotal role in sustaining elevated gold prices.
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