1. After months of gains, gold's upward momentum has slowed since early November; 2. Despite recent weakness, gold remains a top-performing asset with YTD returns of 22% in INR and 29% in USD; 3. Jewellery demand has been lacklustre since the peak Diwali season, and gold price fluctuations have kept consumers on the sidelines.

1. Gold has historically performed well during economic uncertainty, particularly with falling interest rates and rising inflation; 2. The article examines different economic scenarios and how gold has reacted, including falling interest rates and slower economy, rapid economic slowdown, and falling inflation; 3. The author notes that while historical patterns can provide insights, the gold market is influenced by a complex interplay of economic, geopolitical, and market factors.