New Delhi, May 17 -- The correction in gold will be short-term and prices could trade in the USD 3050/ounce (oz) to USD 3250/oz range in the second quarter of 2025, according to a report by ICICI Bank Global Markets.

After a sharp rise witnessed over January-April 2025 in which gold prices rallied by 25 per cent, a correction has set in over the last fortnight as prices have fallen by 4 per cent.

The report adds that the fall in prices reflects reduced anxiety about the trade war and subsequently reduced safe-haven appeal.

Data released from the World Gold Council (WGC), although it is lagged, also shows the main sources of demand for gold that has been in place in the first quarter of 2025.

In this regard, investment-related demand f...