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Gold has retreated after reaching a three-week high of $3,343.02 per ounce earlier this week . The precious metal touched its highest point since June 23, but pulled back, demonstrating the market’s volatile nature even during strong upward moves .

A stronger U.S. dollar triggered the metal’s decline as it reached a near three-week peak. This made dollar-priced bullion more expensive for those holding other currencies . The pattern resembles the early June movement when gold briefly hit a four-week high before dropping 0.7% to $3,356.75 an ounce . The metal has displayed remarkable resilience throughout 2025, and President Trump’s tariff policies have driven it to new highs .

Market analysts remain optimistic about gold’s future. They project average prices of $3,675 per ounce by the fourth quarter of 2025, with potential gains toward $4,000 by mid-2026 . Investors now face an intriguing chance to evaluate whether the metal will sustain its upward momentum or experience additional corrections in the months ahead.