Gold Price Stuck at $4,000 Support Amid Ongoing Geopolitical Tensions

The gold market remains in a state of consolidation, with prices fluctuating around the $4,000 support level.

This stability is largely due to traders' indecision on how to proceed, as geopolitical risks continue to dominate headlines.

As one analyst notes, 'the war could drive up inflation via energy, and that has a major influence on bond markets. Higher interest rates make non-yielding assets such as gold a little less attractive.'

The market's hesitation is also reflected in its failure to decisively break out of the recent consolidation area.