INSUBCONTINENT EXCLUSIVE:
Gold prices stabilized early Wednesday, trading around $2,920.4 per troy ounce after a turbulent Tuesday session that saw futures drop 1.49%
Commerzbank highlighted a reduction of nearly 12,000 long contracts by managed money funds, signaling a cooling of bullish sentiment despite
trajectory, though profit-taking tempered gains
Globally, key markets reflected mixed dynamics.Gold Retreats from Record Highs as Profit-Taking and Tariff Concerns Shape Markets
Technical indicators suggest gold remains in a bullish channel but faces resistance near $2,940 and support at $2,905.A break below $2,900
could lead to further declines toward $2,877, while a rebound above $2,965 might reignite upward momentum
ETF flows reflect sustained investor interest despite recent volatility
correction as traders adjusted positions
project that prices could test the $3,100 mark later this year if economic uncertainties persist
