Gold prices rose slightly after US inflation surged in April

Given gold's typical status as an inflation hedge, this could stimulate the price of the precious metal. Spot gold rose by 0.2% to $4,724.45 per ounce. Vivek Dhar of Commonwealth Bank of Australia stated in a report that structurally stronger safe-haven demand, especially due to concerns over the Federal Reserve's independence and reaction to the United States’ aggressive tariff policies, may help gold prices find support near $6,000 per ounce by the end of the year.