Gold in New York continues its downward trend. The recent gold futures fell by 0.75% and closed around $4,813 per troy ounce, but the background seems to be related to dollar movements. It appears that the dollar is being sold off due to expectations of progress in U.S.-Iran negotiations, and Bloomberg's dollar index has also dropped 1.9% since April.

Harvard professors also point out that the dollar may be overvalued by at least 20%. Geopolitical risks are also involved, increasing global economic uncertainty. During such times, gold tends to attract attention as a liquid asset, but the price movements of gold in New York will continue to be a point of interest.

Silver also declined by 0.53%, trading in the $79 range. It seems to be a price adjustment amid ongoing supply shortages. Looking at the overall market, the precious metals market, including New York gold, is likely to experience continued fluctuations for the time being.