Gold Price Seesaws Around $4,500 Resistance Level

Gold prices have rebounded from the critical $4,000 support zone after weaker US inflation and jobs data reduced expectations of further Federal Reserve rate hikes.

The precious metal climbed above $4,360 on Friday, reaching its highest level in seven weeks, as investors became more optimistic about a September rate move.

However, despite continued central-bank buying and geopolitical tensions maintaining safe-haven demand for gold, the recovery now faces a major test: clearing the $4,500 resistance level to confirm that the trend has turned bullish.