Gold hovered below $4,600 an ounce on Wednesday after dropping nearly 2% in the previous session to a one-month low, as stalled US-Iran peace talks and the ongoing closure of the Strait of Hormuz fueled concerns over rising inflation. President Donald Trump said Iran has called on the US to lift its naval blockade of the strait while negotiations to end the conflict continue, with disruptions already tightening energy supplies from the Middle East. The shutdown of this key passage has cut off roughly 20% of global oil flows, sparking what the IEA described as the largest supply shock on record and intensifying inflationary pressures. Investors have increasingly priced in the possibility that central banks may keep interest rates elevated for longer or even tighten further, weighing on non-yielding bullion. Earlier this week, the BOJ left its policy rate unchanged, while central banks in the US, EU, the UK, and Canada are due to announce their decisions later this week.

Gold fell to 4,568.51 USD/t.oz on April 29, 2026, down 0.60% from the previous day. Over the past month, Gold's price has risen 1.18%, and is up 39.59% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Gold reached an all time high of 5608.35 in January of 2026. Gold - data, forecasts, historical chart - was last updated on April 29 of 2026.

Gold fell to 4,568.51 USD/t.oz on April 29, 2026, down 0.60% from the previous day. Over the past month, Gold's price has risen 1.18%, and is up 39.59% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Gold is expected to trade at 4783.86 USD/t oz. by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 5129.34 in 12 months time.



Price Day Month Year Date
Gold 4,561.15 -34.96 -0.76% 1.02% 39.37% Apr/29
Silver 72.53 -0.512 -0.70% 3.57% 122.35% Apr/29
Copper 5.93 0.0091 0.15% 8.23% 29.55% Apr/29
Steel 3,152.00 12.00 0.38% 0.25% 3.28% Apr/29
Lithium 174,500.00 0 0% 6.08% 156.81% Apr/29
Platinum 1,931.20 -27.60 -1.41% 1.34% 100.73% Apr/29
Iron Ore 107.12 -0.01 -0.01% 0.75% 7.27% Apr/28



Related Last Previous Unit Reference
United States Gold Reserves 8133.46 8133.46 Tonnes Dec 2025
Russia Gold Reserves 2326.52 2329.63 Tonnes Dec 2025
Italy Gold Reserves 2451.87 2451.84 Tonnes Dec 2025
India Gold Reserves 880.18 880.18 Tonnes Dec 2025
Germany Gold Reserves 3350.25 3350.25 Tonnes Dec 2025
France Gold Reserves 2437.00 2437.00 Tonnes Dec 2025
China Gold Reserves 2306.30 2303.50 Tonnes Dec 2025
United States Inflation Rate 3.30 2.40 percent Mar 2026
United States Fed Funds Interest Rate 3.75 3.75 percent Mar 2026

Gold
Gold is one of the most widely followed precious metals and is often regarded as a safe-haven asset during periods of economic uncertainty, inflation, and geopolitical risk. It plays a dual role as both an investment and a consumer good, with demand driven by financial markets, jewelry consumption, and industrial use. Gold is primarily traded on the over-the-counter London market, as well as on major exchanges such as the COMEX and the Shanghai Gold Exchange (SGE). Standard futures contracts typically represent 100 troy ounces. Globally, gold demand is led by jewelry consumption, followed by investment demand and a smaller share from industrial applications. On the supply side, China, Australia, the United States, South Africa, Russia, Peru, and Indonesia are among the largest producers. Major consumers of gold jewelry include India, China, the United States, Turkey, Saudi Arabia, Russia, and the United Arab Emirates. Gold prices displayed on Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments and are intended to provide a general market reference only. These prices do not represent official benchmark prices. The data is supplied by a third party and, while efforts are made to ensure its reliability, Trading Economics does not verify the data and makes no representations or warranties.
Actual Previous Highest Lowest Dates Unit Frequency
4568.51 4596.11 5608.35 34.83 1968 - 2026 USD/t oz. Daily

News Stream
Gold Holds Decline on Inflation Worries
Gold hovered below $4,600 an ounce on Wednesday after dropping nearly 2% in the previous session to a one-month low, as stalled US-Iran peace talks and the ongoing closure of the Strait of Hormuz fueled concerns over rising inflation. President Donald Trump said Iran has called on the US to lift its naval blockade of the strait while negotiations to end the conflict continue, with disruptions already tightening energy supplies from the Middle East. The shutdown of this key passage has cut off roughly 20% of global oil flows, sparking what the IEA described as the largest supply shock on record and intensifying inflationary pressures. Investors have increasingly priced in the possibility that central banks may keep interest rates elevated for longer or even tighten further, weighing on non-yielding bullion. Earlier this week, the BOJ left its policy rate unchanged, while central banks in the US, EU, the UK, and Canada are due to announce their decisions later this week.
2026-04-28
Gold Slumps to One-Month Low
Gold fell as much as 2% to below $4,600 per ounce on Tuesday, hitting its lowest level since late March, as surging oil prices and stalled US-Iran negotiations intensified inflation concerns ahead of key central bank decisions. A US official revealed that President Donald Trump rejected Iran’s latest proposal to resolve the two-month conflict, dimming hopes for a swift resolution to the energy supply disruptions that have fueled inflationary pressures, and, in turn, the likelihood of higher interest rates. While gold is traditionally viewed as an inflation hedge, rising rates diminish its appeal as a non-yielding asset. The US Federal Reserve is expected to hold interest rates at what may be Jerome Powell’s final meeting as chair, with investors watching closely for clues on future policy shifts. Meanwhile, the Bank of Japan held rates steady in a split decision, while other major central banks are also expected to stand pat this week but to adopt a more hawkish tone.
2026-04-28
Gold Falls as US–Iran Diplomacy in Focus
Gold fell toward $4,600 an ounce on Tuesday, extending losses from the previous session as investors assessed renewed diplomatic efforts to resolve the US–Iran conflict, which has triggered a historic energy supply shock and intensified inflation concerns. Tehran reportedly delivered a fresh proposal to Washington through Pakistani mediators, offering to reopen the Strait of Hormuz if the US lifts its blockade, while deferring talks on Iran’s nuclear program. The US remains cautious about the proposal and is expected to respond with counteroffers in the coming days, with Tehran’s nuclear ambitions continuing to be a major sticking point. Investors are also looking ahead to policy decisions from key central banks this week, including the Fed, ECB, and BOJ. Elevated energy prices driven by the Middle East conflict have fueled inflation fears and increased expectations that central banks may keep interest rates higher for longer or even tighten further, weighing on non-yielding bullion.
2026-04-27