Gold Selloff Spurs Debate: Correction or Buying Opportunity as Central Banks Accumulate

Gold has retreated from September highs above $4,400/oz amid a stronger dollar, surging Treasury yields, and expectations of further Fed tightening, with speculative investors reducing exposure. However, central banks and gold-backed ETFs continue accumulating bullion, suggesting underlying structural demand. The key uncertainty is whether the selloff marks a prolonged correction or a dip-buying opportunity, with implications for inflation hedging and portfolio allocation.