Gold prices have fallen after recently achieving a multi-year high. Several factors contributed to this downturn, including profit-taking by investors who sought to capitalize on the increased prices.

Additionally, a strengthening U.S. dollar exerted downward pressure on gold, as a stronger dollar typically makes gold more expensive for international buyers, thereby dampening demand.

Market analysts suggest that investors are currently reassessing their positions and evaluating future indicators to determine the next direction for gold prices. The market remains sensitive to economic data and geopolitical events.