Gold’s sharp correction: What lies ahead for prices?

Gold prices corrected sharply due to a stronger US dollar, rising US bond yields, and expectations of further Fed rate hikes, compounded by profit booking after a two-year rally. Easing US-Iran geopolitical tensions reduced safe-haven demand, though sustained central bank buying from emerging markets provides a structural floor. Analysts view the fall as a technical correction rather than a structural bear market, with the medium-term outlook remaining constructive.