Gold Price Forecast: $4,000-4,500 Range Expected Amid Dollar Strength

Gold prices are expected to trade between $4,000 and $4,500 over the next three to four months due to conflicting pressures on the precious metal. A stronger US dollar is weighing on gold's safe-haven demand, while inflation and geopolitical tensions typically favour the metal.

Ross Maxwell, chief strategy officer at VT Markets, noted that the dollar's current strength appears to be the dominant driver of gold prices. He expects gold to hold a $4,000 to $4,500 range over the coming months, though short-term spikes are possible if there is a major geopolitical shift.

According to Wael Makarem, financial markets strategist lead at Exness, the precious metal's direction is closely tied to bond market moves. Rising yields tend to pressure gold, but when those yields reflect credit market risk, gold tends to benefit instead.