• Price correction drivers: Gold prices experienced a panic-driven drop from above $5,500 to below $4,000, fueled by concerns over US Federal Reserve interest rate hikes, US-Iran negotiations, and a correction in the AI sector.
• Price movement outlook: Gold still faces a potential downside risk of a 6% to 7% decline, while upside potential is seen above 10%.
• Old gold exchange: Old gold exchange now constitutes 49% to 50% of retail business transactions, supported by industry initiatives and more necessity-based consumer purchasing.
• Dovish Fed impact: If softening crude oil prices lead the US Federal Reserve to adopt a more dovish stance on interest rates, gold prices are logically expected to trend upward.