Gold Set for Third Weekly Advance

2026-04-09 23:48 By Jam Kaimo Samonte 1 min. read

Gold steadied above $4,700 per ounce on Friday and remained on course for a third consecutive weekly gain, as the US-Iran ceasefire triggered a sharp decline in oil prices and eased concerns over renewed inflation and potential interest rate hikes.

The metal also drew support from a softer dollar, which had emerged as the leading safe-haven asset during the crisis.

Investors turned their attention to upcoming diplomatic talks in Islamabad this weekend, where Vice President JD Vance is set to head a US delegation in meetings with Iranian officials.

Meanwhile, Israeli Prime Minister Benjamin Netanyahu reiterated that continued operations in Lebanon are not covered by the US-Iran ceasefire agreement, even as Washington plans to host further discussions next week involving Israel and Lebanon to advance broader truce efforts.

US President Donald Trump also warned Iran over imposing transit fees in Hormuz, criticizing its handling of oil shipments.



News Stream
Gold Set for Third Weekly Advance
Gold steadied above $4,700 per ounce on Friday and remained on course for a third consecutive weekly gain, as the US-Iran ceasefire triggered a sharp decline in oil prices and eased concerns over renewed inflation and potential interest rate hikes. The metal also drew support from a softer dollar, which had emerged as the leading safe-haven asset during the crisis. Investors turned their attention to upcoming diplomatic talks in Islamabad this weekend, where Vice President JD Vance is set to head a US delegation in meetings with Iranian officials. Meanwhile, Israeli Prime Minister Benjamin Netanyahu reiterated that continued operations in Lebanon are not covered by the US-Iran ceasefire agreement, even as Washington plans to host further discussions next week involving Israel and Lebanon to advance broader truce efforts. US President Donald Trump also warned Iran over imposing transit fees in Hormuz, criticizing its handling of oil shipments.
2026-04-09
Gold Rises Slightly Amid Middle East Tensions
Gold edged higher to $4,750 per ounce on Thursday, as investors weighed the fragility of the US-Iran ceasefire amid escalating Middle East conflict, while the surge in oil prices heightened concerns over energy inflation. The precious metal hovered near its highest level since March 19, supported by a slightly weaker dollar, as traders monitored whether the ceasefire would hold. Key disputes remain unresolved, and the Strait of Hormuz stays closed. US President Donald Trump warned of major escalation if Iran rejects a deal, while Israel’s deadliest attack in Lebanon, killing over 250, prompted Tehran to threaten retaliation. Since the war began on February 28, gold has lost over 11%, as soaring oil prices dampened expectations of US rate cuts in 2026.
2026-04-09
Gold Holds Steady After Volatile Trade
Gold steadied near $4,700 per ounce on Thursday following sharp swings in the previous session, as investors assessed a fragile ceasefire in the Middle East amid sporadic fighting and lingering uncertainty over the reopening of the Strait of Hormuz. Iranian media reported that oil tanker transit through the strait had been halted after Israeli strikes on Lebanon, while a senior Iranian official said three provisions of the ceasefire proposal had already been breached. Meanwhile, US Vice President JD Vance said there are indications the strait may begin reopening as he leads a US delegation to Islamabad for direct talks with Iran. Oil prices rebounded slightly and the dollar and bond yields edged higher, maintaining downward pressure on gold. On Wednesday, bullion climbed as much as 3.3% following the ceasefire announcement, before giving up nearly all those gains as investors took profits amid a broader risk-on rally in global equities.
2026-04-08