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Indonesia News Portal for Traders | Financial & Business Updates

21 March 2025 23:54  |

Gold Retreats from Record Highs Amid Stronger Dollar

Gold prices declined over 1% to $3,015 an ounce on Friday, weighed down by a stronger U.S. dollar and profit-taking, yet remained on track for a third consecutive weekly gain.

Despite the pullback, bullion has risen 0.7% this week, supported by persistent geopolitical tensions and expectations of U.S. Federal Reserve rate cuts.

As a traditional safe-haven asset, gold has notched 16 record highs this year, reaching an all-time peak of $3,057.21 per ounce on Thursday.

The decline was driven by the dollar’s strength, which climbed to a two-week high, making gold more expensive for overseas buyers.

Nonetheless, market participants continue to anticipate at least two Fed rate cuts this year, reinforcing gold’s long-term bullish outlook.

Additionally, escalating geopolitical risks, including renewed conflict in Gaza, have sustained investor demand for the precious metal.

Source: Trading Economics

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