Gold May Test $4000 Support Amid Rising Inflation Risks, Yet Long-Term Bullish Outlook Holds

After the sharp drop below the 200-day moving average, gold could test the $4000 level if inflation data comes in hotter than expected, according to analyst Fawad Razaqzada. He highlighted the technical damage and key supports near $4230 and $4100, referencing the prior 5% decline seen in September 2023.