International gold prices edged slightly lower in early trading today, maintaining a weak consolidation. This short-term pullback is due to technical adjustments following previous gains. Earlier, COMEX gold futures for the near month closed strongly overnight, rising by 1.7% to reach a phased high, with momentum fully released.



After consecutive increases, the technical outlook for gold has become overbought, prompting some investors to take profits. Coupled with the need for a market correction, this has driven gold prices lower in the early session. As of now, international spot gold is priced at $4,835.85 per ounce, down 0.1% for the day. The short-term trend remains bullish in the medium term, representing a normal technical correction.
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