Gold price prediction today: Why are gold prices under pressure? Check outlook for July 20 week

Gold price prediction today: Gold prices continue to trade on a weak note as geopolitical developments keep investors wary, says Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Ltd.Gold prices remained under pressure for the entire previous week and started this week hovering around $4000 as markets continue to assess the impact of escalating US-Iran tensions on inflation and the Federal Reserve’s policy outlook. Renewed attacks on oil infrastructure and commercial vessels in the Middle East, along with heightened uncertainty surrounding the Strait of Hormuz, have pushed crude oil prices higher, reviving concerns that energy-driven inflation could slow the recent disinflation trend. Although recent US consumer inflation, producer inflation and retail sales data pointed to moderating underlying economic activity, investors remain cautious that sustained strength in oil prices could keep inflation elevated and reinforce expectations of a higher-for-longer interest rate environment.