Gold Holds Steady Amid Inflation Concerns

The gold price demonstrated resilience in the face of inflation concerns and higher US Treasury yields last week, holding support at $4,300/oz despite trading within a narrow range of $108.

According to Dorex CEO John Kochanski, gold's ability to absorb volatility without surrendering its underlying support is 'significant' and indicates strong demand for the precious metal.

The price action was influenced by US inflation data and anticipation of the Federal Reserve's interest-rate decision next week. Gold traded as high as $4,403.20/oz but fell to $4,295.20/oz before recovering to close at $4,350.36/oz.