New Delhi, Feb. 11 -- Gold rate has seen a significant correction over the last few sessions, largely due to profit booking at higher levels. MCX gold April contracts are down nearly 18% from their peak and are witnessing high volatility, raising concerns that the prices may see further correction.

Most experts say it is unlikely that gold prices will lurch sharply lower, as fundamentals such as geopolitical and geoeconomic uncertainties, central bank buying, and US Fed rate cut expectations remain in place.

The People's Bank of China has accumulated gold for the fifteenth consecutive month.

A Bloomberg report, citing official data on February 7, stated that the People's Bank of China (PBOC)'s holding of gold surged 40,000 troy ounces ...