Gold Market Turmoil: Prices Plummet, Experts Predict Further Drop to $3,800

• Gold prices are expected to fall further, potentially by 10% to $3,800, due to weakened US Federal Reserve interest rate cut expectations amid Middle East conflicts.
• Current gold prices have already dropped by almost 20% from their January peak.
• Rising oil prices from prolonged conflicts and inflation concerns are forcing the Federal Reserve to maintain higher interest rates, impacting gold.
• A $7.9 billion outflow from Gold ETFs due to investor profit-taking has also contributed to the price decline.
• Experts note the gold market is at a critical juncture, with macroeconomic factors and investor behavior determining whether prices will rise to $4,800 or fall to $3,800.