Market experts, including Vijay Valecha of Century Financial, suggest that while gold previously recovered due to a retreat in the dollar and profit-taking in the oil sector, the precious metal remains under pressure. Continued geopolitical volatility and the closure of the Strait of Hormuz have heightened inflationary concerns, potentially forcing central banks to maintain or even hike interest rates, which often negatively impacts non-yielding assets like gold. Despite these short-term headwinds and the risk of further equity market corrections, long-term outlooks remain optimistic, bolstered largely by consistent purchasing activity from central banks worldwide.