The gold market has recently entered a phase of consolidation, exhibiting a slight downward bias.

The U.S. dollar demonstrated remarkable strength this week, culminating in its most robust performance since September 2002. Over five consecutive days, the dollar index climbed from 100.468 to 102.573, marking a substantial 2.07% increase.

The gold market has entered a consolidation phase following recent record-breaking performances. After reaching an all-time high of $2,708.70 and a record closing price of $2,695.10 on Thursday, September 26, gold futures have shown a slight downward bias.