Gold climbs more than 2% on softer dollar, easing expectations of higher rates

The 2% pop confirms what we've been tracking since December. Dollar weakness is the catalyst but the real driver is shifting rate expectations. When oil drops and inflation fears ease, the Fed's hawkish stance becomes harder to justify. Physical demand has been building for months while paper traders chase momentum. COMEX registered gold fell another 50,000 ounces this week. Central banks added 290 tons in Q4 alone. This isn't just a technical bounce. The foundation is solid physical offtake meeting constrained supply. Every pullback since $2000 has been bought aggressively. The trend remains intact.