Dubai: Gold buyers waiting for a better entry point may still get another chance, with the World Gold Council saying the metal looks vulnerable in the short term even though its long-term support remains intact. (Check latest UAE gold prices here , alongside prices in Saudi Arabia , Oman , Qatar , Bahrain , Kuwait , and India .)

Gold closed April at $4,611 an ounce, almost unchanged for the month, after investors balanced strong exchange-traded fund inflows and dip buying against weaker market volatility, stronger risk appetite and delayed expectations for US interest rate cuts.

Gold is not in a clean upward move for now. The market has lost some momentum after the March sell-off, and prices may need a fresh trigger before the rally resumes.

Buyers hold back after March fall

The WGC said gold’s April performance was shaped by two opposing forces.…