Overview
- Spot bullion fell nearly 3% to around $3,990 an ounce, extending last week’s steep sell‑off and breaking the $4,000 threshold.
- Progress toward a US–China trade agreement, including a negotiators’ framework and a planned Trump–Xi meeting this week, curbed safe‑haven buying.
- The pullback follows a record high just above $4,380 last week and a year‑to‑date gain above 50%, with profit‑taking, a firmer dollar and ETF outflows cited by analysts.
- A Reuters poll now sees gold averaging $4,275 in 2026, yet views are split, with forecasts ranging from a correction toward $3,500 to targets near $4,900–$6,000.
- Local markets echoed the slide, with Indian benchmarks slipping near Rs 1.22–1.25 lakh per 10g and Pakistani prices down Rs 3,300 per tola; silver also retreated.