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Precious Metals Cool Off as Traders Book Profits Near All Time Highs
Profit booking hit gold and silver after record highs, with analysts citing stretched valuations, dollar strength, and cooling momentum. Traders are now tracking support and resistance levels for short term price direction.
Gold and silver prices witnessed profit booking after hitting record highs, as traders locked in gains and momentum cooled. Analysts said elevated prices triggered selling, while a stronger dollar and easing geopolitical risk added pressure. Short term charts indicate volatility may persist, with traders closely watching key support and resistance levels to gauge whether precious metals stabilise or extend correction.