Gold prices might be under pressure from the current “risk-on” environment for equities and rising interest rates, but several analysts expect the price to recover and say the precious metal can provide investors some real risk protection.

Gold is currently trading around $1,210 per troy ounce. During Monday’s session it fell to $1,204.45, the lowest level since March 15. Several factors are weighing on the price, including the rising interest rate environment where the U.S. Federal Reserve’s hawkishness has pushed up the dollar, which consequently puts pressure on the dollar-denominated metal.

However, inflation in the U.S. may prove beneficial for gold, according to Nitesh Shah, commodities strategist at ETF Securities. Gold is traditionally seen as a hedge against inflation.

“We believe that inflation in the U.S. will remain elevated and will rise above 2 percent. And therefore the real interest rate in the U.S., despite interest rates increasing, will remain quite subdued,” Shah told CNBC on Monday.

Read the full story at CNBC.