US gold prices dropped sharply on Thursday, with COMEX gold falling below $4,650 per ounce after opening near $4,780 earlier in the session. The metal declined more than 3.5% intraday, marking a sudden shift in momentum after recent gains.
The fall was quick and aggressive. Prices slid from the $4,780 zone to around $4,640 within hours, showing clear selling pressure. Once gold slipped below $4,700, the decline accelerated as traders exited positions and stop-loss levels were triggered.
The main pressure came from a stronger US dollar and rising Treasury yields. When the dollar gains and yields rise, gold tends to weaken as it offers no fixed returns compared to bonds.
Profit booking also played a role. After trading near highs, many traders locked in gains, adding to the downside move.
Technically, gold now faces support near $4,600, while $4,700 has turned into a key resistance level. Unless prices move back above that range, the short-term trend remains under pressure.
For live price updates, check the latest gold price here.
For now, the trend is clear — US gold price today has turned lower, with COMEX gold dropping sharply below $4,650 per ounce amid strong selling.
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