The drop in gold prices signals a broader shift as the market reacts to strong U.S. jobs data, which may influence the Federal Reserve's rate cut policies.
Recent geopolitical developments, particularly potential ceasefire efforts in the Middle East, have prompted investors to move away from gold and towards higher-risk assets like stocks.
Gold's decline over six consecutive days indicates underlying pressures, including high Treasury yields and the strength of the U.S. dollar, influencing investor sentiment.
Traders are currently hesitant to make major decisions with significant economic indicators like the Fed minutes and U.S. inflation data expected soon.
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