I retreated gold prices Again on Thursday, heading near a three-week low, pressured by the dollar’s continued rally amid speculation that the Federal Reserve will continue to tighten monetary policy aggressively and possibly lead to a recession, prompting investors once once more to seek refuge in the US currency.
The dollar’s successive gains caused gold bullion prices to fall by more than 20% from the highest price recorded last March, as the yellow metal usually has a negative correlation with the movement of the US currency.
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