In an unprecedented turn of events, the gold market witnessed its biggest weekly decline in more than five months, a trend largely fueled by the strength of the US dollar. The precious metal which is typically considered a safe investment during times of geopolitical and economic uncertainties suffered this fall as the robust dollar made trading more expensive for investors who hold other currencies. This has inevitably eradicated the allure of gold as a hedge against the dollar. The situation raises questions around gold’s ability to maintain its usual reliable value, especially in the face of a flourishing dollar. More updates to follow as the market unfolds.
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