Gold prices have recently experienced a substantial decline, dropping over 6% on the MCX due to profit-taking and a stronger dollar. This downturn follows a period of record highs driven by geopolitical tensions and robust central bank demand.
Analysts view this dip as a short-term correction rather than a long-term trend, as macroeconomic uncertainties continue to loom. Despite the recent slump, experts maintain an optimistic outlook for gold, citing ongoing global economic challenges that could support prices in the future.
The market also reacted to a stronger dollar, which raised costs for investors using other currencies. Meanwhile, the recovery of rival assets like Bitcoin suggests shifting investor sentiment, further complicating the landscape for gold.
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