Today, gold prices fell over 1%, dropping from a three-week high after a stronger dollar and profit-taking undermined the market. The spot gold price dropped to $5174.68 per ounce, ending a four-session streak of gains, while April futures for gold declined by 0.6% to $5193.80. The uptick in the dollar, which rose by 0.2%, has made gold more expensive for holders of other currencies.

Analyst Zain Voda from Market Pulse indicated that the profit-taking was expected after prices reached a record level near $5249 per ounce. Additionally, the anticipation surrounding new tariff announcements from President Trump's administration is contributing to the overall uncertainty in the market for gold. Investors are closely monitoring these developments for clearer signals on the immediate impact of tariffs on commodities.

Despite today's price drop, the general outlook for gold remains positive, according to analysts. Should the dollar weaken further or geopolitical tensions escalate, gold may experience renewed upward momentum as investors seek safe-haven assets in uncertain times.