This surge was driven by last week's softer U.S. inflation data, which supported expectations that the Federal Reserve would begin cutting interest rates in June.
Expectations of lower interest rates and their implementation could support gold over the short and long term, with increased demand from investors due to geopolitical concerns.
Demand from central banks could also continue to support gold over the long term.
Gold prices could see downside risks over the short term post-March surge as traders secure gains, with potential pressure on jewelry demand.
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