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Gold has been sold, but it seems like the decline has stabilized somewhat. According to recent reports, gold is trading at over $4,800 per ounce. The positive sentiment around Iran-Israel negotiations and the decline in crude oil prices appear to be supporting the market.
From an analyst's perspective, gold experienced significant selling due to liquidity concerns, but recently, concerns about economic growth have resurfaced, and market volatility has settled down, leading to some of the previous declines being recovered. If real interest rates rise, the dollar remains strong, or profit-taking sales increase, there could be short-term pressure on gold, but looking at recent adjustments, there still seems to be considerable latent demand for gold.