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Gold prices fall further from record highs as dollar reigns after SNB cut.

Gold prices fell in Asian trade on Friday, retreating further from record highs hit this week as a sharp uptick in the dollar, following a surprise interest rate cut by the Swiss National Bank, pressured metal markets. 

The yellow metal had surged to record highs above $2,200 an ounce after the Federal Reserve maintained its outlook for at least three interest rate cuts in 2024. But the yellow metal spent little time at these highs, as the dollar rebounded sharply on dovish signals from other major central banks.

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