Gold prices experienced a third consecutive week of decline, hitting a two-month low near $2,540. The rise of the US Dollar, fueled by market reactions to the Trump-led rally, has kept gold prices under pressure. If the $2,500 mark is broken, further retracement could follow.

The ongoing strength of the US Dollar, combined with inflation fears and geopolitical tensions, is contributing to gold's struggles. Following Donald Trump's election win, the US Dollar gained significant momentum, pushing gold lower. However, ongoing geopolitical instability, especially in Israel and Ukraine, is expected to support gold prices in the long term, potentially offering a safety net.

Investors remain cautious, watching for signs of policy shifts that could impact the market. As a result, gold remains under scrutiny for potential deeper pullbacks, with key technical levels to monitor.