After hitting an all-time high in January 2026, gold has pulled back roughly 16 percent to trade around $4,700, driven by rising US inflation expectations and growing conviction that the Federal Reserve will keep rates elevated well into 2027.
After hitting an all-time high in January 2026, gold has pulled back roughly 16 percent to trade around $4,700, driven by rising US inflation expectations and growing conviction that the Federal Reserve will keep rates elevated well into 2027.