Gold Price Forecast: Gold Bulls Defend $4,000 as PPI Inflation Risks Rise
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Key Points:
- Gold has rebounded from key support, but the rally needs a stronger breakout to confirm the next bullish phase.
- Rising PPI inflation, oil supply risks, and easy liquidity continue to support gold as an inflation hedge.
- A stronger dollar, hawkish Fed response, or a break below key support would signal a deeper correction.
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Gold (XAU) rebounded from the $4,000 support area last week as the U.S. dollar weakened and inflation pressures remain high. In my view, this rebound keeps the short term bullish setup alive but gold still needs to break above the key level to confirm the next rally phase. This article examines the PPI inflation shock, the oil supply risk, the dollar weakness and the key levels to determine the next move in gold