Is correction mode on in the GOLD ?

After failing to breach the all-time high resistance of $2,790, gold prices have retreated, signaling a shift in momentum. The inability to maintain levels above $2,765 has led to increased bearish sentiment. On the downside, immediate support is seen in the $2,725-$2,730 zone, with a more robust secondary support at $2,700. A break below these levels could indicate further weakness. Meanwhile, any recovery above $2,765 on a closing basis might attract fresh buying interest, but the overall sentiment appears bearish for the day.