Commodities
Gold Holds Firm Above $4,350 Amid Market Pullback
The price of gold has pulled back to $4,352.52 after a market correction, but remains above its intraday low of $4,345.88.
According to Phemex, the XAU/USD spot price is down 0.59% on the day, with the one-week return positive at 1.21%, and the one-month return negative at -5.49%.
The factors driving the current gold price include US interest-rate expectations, the US dollar, real yields, geopolitical risk, and investment demand.
Central-bank purchases remain a structural source of demand for gold, but elevated prices and higher interest rates can limit upside.