Overview
- Bullion hovered near $4,110–$4,130 per ounce on Friday, set to snap a nine‑week winning streak with a roughly 3% weekly decline after this week’s steep selloff.
- The pullback followed the year’s rapid surge to an intraday peak near $4,398, with the reversal intensified by technical overextension and the strongest one‑day drop in more than a decade.
- Gold‑backed ETFs saw their largest single‑day tonnage outflow in five months as the dollar strengthened, reinforcing profit‑taking and short‑term deleveraging.
- Near‑term direction hinges on the U.S. CPI due Friday and a planned Trump–Xi meeting that could influence safe‑haven demand and trade‑deal expectations.
- Views diverge on the path ahead, with forecasts of a further 5%–6% slide and consolidation around $4,000 contrasted with longer‑term bullish calls from major banks; local markets in India and Pakistan mirrored the downturn.