Gold prices decline, leading the drop; precious metals face short-term pressure

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Spot gold prices have weakened in the short term, with the decline expanding to over $20. Currently trading around $4348.42 per ounce, the day’s gain has narrowed to 0.7%. At the same time, spot silver has also failed to outperform, with a short-term decline of over $1, now quoted at $73.24 per ounce, and the intraday rally has significantly retreated to 2.4%.

From the trend perspective, precious metals are generally under pressure, with gold prices experiencing a more noticeable correction. Although silver’s decline is relatively mild, the downward trend remains consistent. Both assets’ performance today indicates that the morning rally is fading, and market sentiment is pulling back.

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