Gold Prices Pull Back from Three-Week High

Forex - Gold prices for the ounce have retraced from a three-week high due to profit-taking. This morning, gold saw a 2% decrease, reaching $2,658.37 per ounce, and is currently trading at $2,667.06, down 1.44% compared to Friday. Analysts are marking $2,652 as a support level for gold. If this level is broken, they expect a continued decline towards $2,630. Analysts also point out that to reverse the trend upward, gold needs to rise above $2,678; if that threshold is breached, they anticipate a movement towards $2,722.