New Delhi, April 17 -- Global investment firm Jefferies in its latest report said that gold has entered a consolidation phase following a strong retail-driven buying surge seen late last year and early this year across key markets including India, China and the United States.

The report noted that the earlier rally in gold demand, particularly from retail investors, has started to moderate, indicating a stabilisation in prices after a period of heightened activity.

It stated, "gold has entered a healthy consolidation period after the retail-driven buying frenzy late last year and early this year".

Citing India as an example, the report highlighted that the country recorded gold imports worth USD 14.7 billion in October and USD 12.1 bil...