why is gold down today

Gold is actually down today, slipping below $4,000 per ounce, mainly due to a stronger US dollar and investors taking profits following a ceasefire deal between Israel and Hamas. The US dollar index rose about 0.5%, making gold more expensive for overseas buyers and reducing demand. Additionally, some speculators have pared back positions as geopolitical tensions eased. The ongoing US government shutdown in the US has caused market anxiety and delayed key data releases, contributing to market uncertainty. Despite today's pullback, gold is still up roughly 52% this year, supported by central bank buying, strong ETF inflows, and expectations of further Federal Reserve rate cuts later this year.