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Gold futures forecast shows retracement risk if U

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Gold futures forecast shows retracement risk if U.S. retail sales data surprises strongly upward, strengthening the dollar, but broader fundamentals keep the medium-term outlook firm. Sandstorm Gold Ltd. has been removed from the PHLX Gold Silver Sector Index, which affects its status as an index constituent and may influence trading interest from index-tracking funds. “(Prime Minister Narendra) Modi made a policy decision a year ago to grow the solar industry in India. So in India, only about 10 percent of their demand for silver is used for industrial purposes. In China, it’s 90 percent, and so what you’re going to have in India is you’re going to see their solar panel growth skyrocket,” he added. Based on the current gold futures forecast, investors are recalibrating expectations after dovish ECB commentary pushed the euro higher, weighing on the U.S. dollar. This shift could enhance gold’s relative appeal in the near term.