Gold Prices Face Heavy Selling Pressure as USD Demand Surges
Gold prices are seeing substantial selling pressure at the start of a new month, falling to the $2,623-2,622 range during Asian trading hours. This downturn interrupts a four-day winning streak, largely influenced by a significant rise in demand for the US dollar. Investor sentiment shifts as expectations about possible inflationary pressures from US President-elect Donald Trump’s tariff proposals heat up. These factors collectively suggest a rising tendency in US Treasury bond yields, sustaining pressure on gold.
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