Following one of the most aggressive sell-offs in decades, gold prices continued to rise on Wednesday, extending the previous day's rebound. Although gold dropped over 13% in just two trading days recently, it has still gained more than 17% year-to-date. Analyst Edward Meir noted that sharp volatility often precedes a corrective rebound, suggesting gold may now be entering a consolidation phase.
Market Dynamics
Escalating geopolitical tensions have prompted renewed safe-haven inflows into gold, even as the metal faces short-term headwinds.
- Gold extends rebound on Wednesday
- Geopolitical risks underpin prices
- Analysts expect consolidation ahead