Key Points
Despite the fall in prices, analysts remain bullish about the yellow metal's long-term potential..
Gold prices faced their sharpest weekly drop in over three years, driven by a stronger US dollar and changing investor preferences...
Spot gold ended the week at $2,562.61 per ounce, down more than 4%, while US gold futures dropped 0.2% to $2,567.10..
A stronger dollar has added to golds challenges, making the metal more expensive for investors holding other currencies..
Rahul Kalantri, Vice President of Commodities at Mehta Equities, attributed the drop in gold prices to the dollars surge and shifting investor interest toward cryptocurrencies...
