Gold bullion

Gold Prices Drop Due to Strong Dollar and Rise in Bond Yields

Today, gold prices fell by more than 1%, pushed down by the strength of the dollar and an increase in bond yields. This was in response to the announcement of US economic data, which indicated better-than-expected results.

As of this writing, the price of gold has dropped from its previous closing of $1,972.00 to $1,944.73, representing a loss of 1.39%. This move clearly contrasts with the recent upward trend in gold prices.

Looking back to July 20, when the gold price was at its peak of $1,981.50, we can see a 1.86% fall. The gold price has changed significantly over the past week, going from a high of $1,982.19 to a low of $1,942.76.

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