Gold price prediction today: Will gold prices stay range-bound? Check July 28 outlook

Gold price prediction today: Gold prices are rising but are still not out of the woods, says Praveen Singh, Head Currencies and Commodities, Mirae Asset ShareKhan.Gold Performance:Spot gold traded with an upward traction on Monday as a sharp decline in oil prices alleviated rate hike concerns to an extent. However, the metal trimmed its gains from its intra-day high of $4116 as oil prices rebounded slightly from day's low on Saudi Arabia reporting drone attacks by Iran militia from Iraq.At the time of writing this article, spot gold was trading with a gain of 0.20% at $4065.Earlier, in the week ending July 24, the yellow metal closed with a weekly gain of 0.90% at $4054.Data roundup:US durable goods order data released Monday came in at 0.3% Vs the estimate of 1.8% (prior -4%), though core durable capital goods orders increased 0.9% last month after an upwardly revised 1.9% gain in…