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Gold Falls Near $3,980 on Wednesday, Down 3% as Dollar Rallies; Bull Market Not Over, Analyst Says

GateNews
MetalsForex
According to Kitco News, gold fell near $3,980 per ounce on Wednesday, down 3% intraday as the U.S. dollar index rallied to its highest level in over a year. Spot gold is struggling to hold the $4,000 support level amid expectations that the Federal Reserve may raise interest rates as early as September. Analyst Paul Williams at Solomon Global noted that gold's nearly 30% drop from January highs mirrors historical patterns—during the 1970s, gold fell 45% before surging to record highs in 1980, and it declined roughly 30% during the 2008 financial crisis before recovering strongly. Williams emphasized that gold remains up approximately 20% over the past 12 months, and long-term bullish fundamentals remain intact.
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