Gold Futures Retreat. Traders Are Nudging Back Toward Risk.

Gold prices were retreating from Friday’s record high early Monday. Still, analysts say there’s scope for the commodity to push higher.

The main reasons for gold’s advance Friday haven’t gone away. The conflict between Israel and Iran continues, which increases demand for safe havens. What’s more, some oil facilities were targets over the weekend, pushing crude prices higher. That in turn raises worries about inflation, and gold is considered a reasonable hedge against rising consumer prices.

Traders would also be selling up to lock in profits from the recent advances, according to Konstantinos Chrysikos, a strategist at Kudotrade.