XTB Analyst: Gold Slave to Rates, Oil Spike Could Push Gold to $3,800

Michał Stajniak of XTB argues gold's price is primarily driven by interest rates, not oil. In an extreme scenario where oil breaks $120 and keeps rising, gold could fall to $3,800, which he views as below fair value. The comment reflects a market view on gold's trajectory amid potential oil-driven inflation and rate responses.

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