Gold Price Pullback Seen as Shakeout Amid Strong ETF Demand
The gold price has pulled back from its recent high of $4,428. The current correction is around 2% off that peak, and some analysts believe it could be a shakeout for late buyers rather than the start of a deeper decline.
According to data from The Kobeissi Letter, global physical gold-backed ETFs attracted $3.5 billion in inflows last week, extending their streak to six weeks. This marks the largest weekly intake since February 2026 and brings the total over that period to $10 billion.
The daily chart for gold remains bullish, with a Break of Structure indicating higher highs and higher lows are developing. However, the 4-hour RSI is below 50, suggesting sellers are still in control in the short term.
Looking further out, the chart points to possible targets of $5,100 and $5,600 if the bigger uptrend stays alive. But for now, the immediate trend is stuck in neutral, leaning bearish, and gold needs to hold above $4,300 to keep the current correction contained.
According to CoinCodex's 1-month gold price prediction, the price is projected to reach around $4,999.05.