Gold price climbs above $4,000 as US dollar weakness fuels rally

The price of gold rose above $4,000 per ounce, supported by a sharp weakening of the US dollar and inflation data that met market expectations. Traders noted the level as a technical anchor, with buying pressure returning when prices slipped. Market participants are awaiting the weekly Commitments‑of‑Traders (COT) report from the US Commodity Futures Trading Commission, which could add short‑term volatility.

Deutsche Bank research describes the current surge as a historic exception, noting that only five comparable periods have occurred since 1975. The bank maintains a price target of $4,600 per ounce for the fourth quarter and expects the upward trend to continue, despite the possibility of short‑term corrections.