New Delhi: Gold prices are expected to witness some consolidation and mild correction next week as the recent record-breaking rally looks overstretched and physical demand eases after the festive rush, analysts said.

After hitting fresh highs in global and domestic markets, bullion may trade in a narrow range, with investors eyeing the US funding bill, key global data releases, and remarks from Federal Reserve officials ahead of the October 28-29 policy meeting, they added.

"Gold prices are likely to see some corrections/ consolidation as ongoing fundamentals are already priced in and physical demand wanes post mid-week," Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd, said.

He added that traders will monitor key global indicators, including

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