Gold Prices Fall to $4,335.97, Down 21% from January Peak of $5,594.82

AI Summary

Gold prices have fallen into bear market territory, trading at $4,335.97 per ounce after a decline of 1.5%. This marks a 21% decrease from its late-January peak of $5,594.82. Futures have also seen a drop, currently at $4,317.80 per ounce. Despite this downturn, some analysts maintain long-term forecasts for gold to reach $10,000 by the decade's end, with year-end estimates adjusted to $5,000, still representing a 15% increase from current levels. Analysts cite persistent geopolitical risks and strong central bank demand as underlying support for gold prices.