INSUBCONTINENT EXCLUSIVE:
unprecedented highs.Spot gold traded at $3,315.04, declining 0.12% from previous levels after briefly touching the historic $3,500 mark on
triggered the downturn when he unexpectedly backed away from threats to dismiss Federal Reserve Chair Jerome Powell
Technical indicators show gold prices have fallen below key support levels, with immediate resistance at $3,365.Gold Retreats Sharply from
$3,500 Historic Peak as Trump Softens Stance on Fed and China
(Photo Internet reproduction)Market forecasts suggest a potential rebound target above $3,625 if upward momentum returns
Analysts recommend traders monitor the Relative Strength Indicator for additional buy signals as prices consolidate.Gold Market
CorrectionThe correction affects global markets differently
In India, gold prices dropped substantially, with 24-karat gold trading at ?9,835 per gram today after surpassing ?10,000 yesterday
JP Morgan predicts gold will cross $4,000 per ounce by the second quarter of 2026
Goldman Sachs recently raised its 2025 year-end forecast from $3,300 to $3,700 per ounce, citing continued central bank buying and investor
demand.First-quarter data supports this bullish outlook
Gold ETFs attracted $21 billion (226 tonnes) in the first quarter, marking the second-highest quarterly inflow in history.North American
funds captured 61% of these inflows, while European funds accounted for 22%
Asian funds contributed an impressive 16% despite representing only 7% of global assets under management.Market analyst Kelvin Wong from
explained.Investors now focus on upcoming US PMI data for clues about economic health and potential Federal Reserve rate decisions
Analysts suggest the current correction presents a buying opportunity for those maintaining a bullish long-term outlook on gold.
