Gold's rally hits a speed bump, but analysts see 40 trillion reasons to stay bullish

Analysts flag that gold’s upside could continue for the rest of the year—framed as having “40 trillion reasons” to rise—while renewed expectations that the Fed must keep fighting inflation may inject volatility next week. The key near-term driver is likely rate-path uncertainty as markets reprice the Fed’s inflation-fighting stance. Overall, the setup remains supportive for gold but with higher short-term risk of swings.