Gold Poised for Fourth Weekly Gain

2026-04-16 23:45 By Jam Kaimo Samonte 1 min. read

Gold held steady near $4,800 an ounce on Friday and was on track for a fourth consecutive weekly advance, as prospects for a permanent ceasefire agreement between the US and Iran helped ease concerns over inflation and central bank rate hikes.

President Donald Trump said Tehran had agreed to terms including abandoning ambitions for a nuclear weapon, supplying “free oil,” and reopening the Strait of Hormuz, although Iranian officials have yet to verify these claims.

Despite this, the Strait of Hormuz remains effectively closed under a dual blockade, while IMF Executive Director Fatih Birol cautioned that restoring a meaningful portion of disrupted oil and gas output could take up to two years.

Even so, oil prices have retreated sharply amid growing optimism over a potential Iran deal, easing inflationary pressures and dampening expectations of further rate hikes.

Gold is set to rise by about 1% this week and remains roughly 17% above its March low.



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Gold Poised for Fourth Weekly Gain
Gold held steady near $4,800 an ounce on Friday and was on track for a fourth consecutive weekly advance, as prospects for a permanent ceasefire agreement between the US and Iran helped ease concerns over inflation and central bank rate hikes. President Donald Trump said Tehran had agreed to terms including abandoning ambitions for a nuclear weapon, supplying “free oil,” and reopening the Strait of Hormuz, although Iranian officials have yet to verify these claims. Despite this, the Strait of Hormuz remains effectively closed under a dual blockade, while IMF Executive Director Fatih Birol cautioned that restoring a meaningful portion of disrupted oil and gas output could take up to two years. Even so, oil prices have retreated sharply amid growing optimism over a potential Iran deal, easing inflationary pressures and dampening expectations of further rate hikes. Gold is set to rise by about 1% this week and remains roughly 17% above its March low.
2026-04-16
Gold Steadies as Iran Talks Reduce Inflation Concerns
Gold steadied around $4,790 an ounce on Thursday, after a 1.1% drop in the previous session, as efforts to reach a diplomatic resolution to the Iran conflict eased inflation concerns despite ongoing tensions around the Strait of Hormuz. The US and Iran are reportedly considering extending a two-week ceasefire to allow further negotiations, with both sides signaling willingness to pursue diplomacy after inconclusive talks in Pakistan. Still, shipping through Hormuz remains heavily restricted, with the US blockading Iranian vessels and Tehran limiting broader traffic. President Donald Trump said the war is “close to over,” helping support sentiment across markets. Softer oil prices have reduced inflation fears, reinforcing expectations that the Federal Reserve will keep rates on hold, though uncertainty around policy and geopolitical risks continues to underpin gold demand.
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Gold Rises on US-Iran Diplomacy Hopes
Gold climbed back above $4,800 an ounce on Thursday, recovering from the prior session’s losses as investors assessed the outlook for renewed negotiations and a potential long-term peace deal between the US and Iran that could help ease inflation pressures. Reports suggested Washington and Tehran are considering extending their two-week ceasefire to allow more time for talks, even as the Strait of Hormuz remains effectively closed under a dual blockade. Attention is now shifting to a possible second round of US-Iran discussions, expected to focus on reopening the strait and Iran’s nuclear enrichment program. Gold has drawn support in recent weeks as diplomatic progress in the Middle East reduced concerns over inflation and possible central bank tightening. However, the precious metal remains nearly 9% lower since the conflict began.
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