Latest gold update today, should note what?

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Gold prices fell today in the context of the unexpected increase in the USD Index from 104 points to 105 points. This has given impetus to the USD to appreciate against 6 other major currencies, including the Euro, JPY (Japanese Yen), GBP (British Pound), CAD (Canadian Dollar), SEK (Swedish Krona), and CHF (Swiss Franc).

Meanwhile, the 10-year US bond yield reaching 4.64% per year has prompted many to invest in bonds. As a result, the flow of money into precious metals has been limited. Today, gold prices faced additional downward pressure.

On the other hand, investor sentiment is highly optimistic as most central banks are believed to have completed their interest rate tightening cycle. Additionally, the temporary easing of military conflict between Israel and Hamas has encouraged capital outflow from safe haven assets, including gold.

Exiting the uptrend channel has led to an impressive price decrease at the time of writing, with gold trading at $1974. In the near future and according to the 4-hour chart, the next target level could potentially be the support level at $1965.
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Gold price today: Reduce shock?
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Gold price recovers slightly after the shock reduction!
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