Gold Price Poised for Potential Breakthrough Above $5,000 Resistance

Gold has continued to hold above $4,500 due to a weaker U.S. dollar and lower expectations of an immediate Fed rate hike.

This support has led many analysts to predict that gold could break through the resistance level at $5,000 in the near future.

However, there are some concerns that high inflation and rising oil prices may hinder this potential breakout.

Brent crude has recently surpassed $100, which could have a negative impact on gold's price movement.