Gold Teeters on $4,000 Threshold Amid Central Bank Buying

The gold market is facing its most consequential week yet as it attempts to hold above the $4,000 threshold. The metal has been consolidating for months rather than trending, with a familiar tension between geopolitical fear pushing prices up and a firming dollar pulling them back down.

Last Friday's session ended with gold at $4,098.60 per ounce, down 1.54 percent on the day, leaving bullion roughly 27 percent below its 52-week high of $5,626.80 reached in late January.

The central bank's decision to keep interest rates unchanged at 3.50 to 3.75 percent has been seen as a supportive factor for gold, but persistent inflation pressures have kept price action choppy. Bridgewater's Ray Dalio has added to the mix, warning that the US economy is approaching a 'point of no return' on debt, traditionally an environment that bolsters gold's appeal.