Gold Holds $4,100 Price, But Inflation Presents Downside Risk
While the price of gold continues to exceed $4,100 per ounce, persistent inflation, a strengthening U.S. dollar and rising bond yields could limit further gains. Although the precious metal has recovered from the decline it suffered as last week ended, analysts believe its price must go above $4,200 to establish a stronger bullish trend. Spot gold was trading at around $4,187 per ounce, representing an increase of over 1%. Prices rebounded after dropping lower than $4,100 in the previous week, suggesting that investors remain willing to buy during market pullbacks despite growing economic uncertainty. FOREX.com market analyst Fawad Razaqzada argues…