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[Opinion] Gold sees heavy profit taking after hitting 5-week high overnight
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In the US trading session (night of July 24), the world gold price continued to decline, recording a loss of 27 USD/ounce during the day, equivalent to a loss of 0.73%, down to 3,359 USD/ounce. Profit-taking activities were stronger than buying, causing gold to fall rapidly after reaching a high of over 3,400 USD/ounce earlier.
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Gold Prices Decline Locally and Globally Amid Profit-Taking and Improved Risk Appetite
Gold prices saw a notable decline in Thursday's trading, weighed down by profit-taking after the precious metal reached a five-week high. Improved global risk sentiment also reduced demand for gold as a safe haven.
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