Gold prices have rebounded over the past weeks, reversing a sharp wartime slump as cooling inflation expectations, a more dovish outlook for the Federal Reserve and a surge in Chinese buying breathe new life into the precious metal.
Gold rose to $4,465 an ounce on Wednesday, its highest level in more than two months, before declining slightly on Thursday. The rally marks a significant turnaround for an asset that had struggled following the outbreak of the war with Iran despite its traditional reputation as a haven during periods of geopolitical uncertainty.
