Gold prices dropped sharply today, with spot gold falling over 3%, near $4,328 per ounce, erasing all gains made earlier this year. The main reason is the strong U.S. non-farm payroll data for May, which boosted market expectations of a Federal Reserve interest rate hike, coupled with a strengthening dollar and rising U.S. Treasury yields, putting clear pressure on gold prices. In the short term, market sentiment remains bearish, and future developments will still depend on changes in relevant macroeconomic factors. $XAUUSD

XAUUSD3.38%
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