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Gold prices experience a significant downward movement
Spot gold prices have seen a substantial decline during the day, with a contraction beginning below the $4,890 per ounce mark. According to PANews, this downward trend has intensified, recording a decrease of over $200 from the daily high, which corresponds to a 1.15% contraction during the session.
The pressure on prices indicates a reversal of the gold market trend, reflecting changes in overall macroeconomic conditions. This significant correction in the precious metal's price demonstrates increased volatility in commodity markets amid economic uncertainties.