Gold prices are down so far this year, but one expert expects a rebound if the dollar rally starts to fade.

"I think gold prices are looking for a catalyst," said Will Rhind, CEO of GraniteShares, the company behind the GraniteShares Gold Bar ETF (BAR - Get Report) , which tracks gold prices.

He said the recent rise in inflation is good for gold, which is traditionally viewed by investors as a hedge against inflation.