Overview
- Spot bullion fell below $4,000 on Monday during the steepest pullback in years, then edged back to roughly $4,010–$4,020 early Tuesday.
- Weekend talks produced a preliminary Washington–Beijing framework and a Trump–Xi meeting is planned in South Korea this week, curbing safe-haven demand.
- Citigroup cut its three‑month gold target to $3,800, while Capital Economics warned of a potential slide to $3,500 by end‑2026, even as some banks and a Reuters poll flagged longer‑term bullish cases.
- The slump rippled through local markets, with Indian MCX contracts and retail prices sliding and Pakistan’s per‑tola rates dropping in step with global moves.
- Silver fell alongside gold during the correction, though gold remains up roughly 50% for 2025 after mid‑October record highs above $4,380.