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⬅️📰 Gold declines under pressure from the strength of the dollar and weak Asian trading 📉🟡
🔴 Price drop: Spot gold prices fell by 1.5%, settling at $4910 per ounce during trading on Tuesday.
🔴 Reasons for the decline: The drop was due to the rise in the dollar index and weak liquidity in Asian markets as trading halted for the Lunar New Year holiday.
📌 📉 Impact of the news: Negative for gold; the strength of the dollar and the absence of buyers in China (the largest consumer) prevents the metal from recovering and pushes it to test lower technical supports.
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