Latest Gold Price Update TodayIn the most recent trading session, global gold prices dropped over 31 USD per ounce, closing at 3,337 USD. This sharp decline follows a three-day rally and reflects profit-taking by investors and a shift in capital flow.
Newly released economic indicators show that the U.S. labor market remains strong, with jobless claims falling for the sixth consecutive week — the longest streak since 2022. This helped the U.S. dollar rebound slightly, putting pressure on gold, a non-yielding asset.
At the same time, investor sentiment has tilted toward riskier assets like equities, as trade talks between the U.S., EU, and Japan show positive progress. Stock markets in the U.S. and Europe surged, drawing capital away from gold.
Although expectations remain for a potential Fed rate cut in September, gold faces short-term headwinds. The 3,300 USD zone is now a key level to watch. Traders should look for reversal signals and volume confirmation before considering long entries.
Personal view: USD strength, rising stock markets, and profit-taking are creating a short-term correction for gold. However, in the longer term, there is still upside potential if the Fed signals a policy shift in the coming months.
And you — what’s your take on gold prices today?
