🟡 Gold Pulls Back Sharply After Record Highs.

Gold (XAU/USD) saw a sharp correction of over 3%, retreating from its record peak near $5,600 to around $5,260, as markets shifted into profit-taking mode.

📉 What’s Driving the Move?

• Sell-off in Mag 7 tech stocks triggered risk rebalancing

• Reduced demand for defensive assets as Fed maintains steady stance

• Cooling momentum after RSI reached extreme overbought levels

• Broader weakness across commodities, including silver and copper

📊 Key Technical Levels to Watch

• $5,100 – First major support

• $5,000 – Strong psychological & technical support