Gold Hovers 1-Month Low on Inflation Risks

2026-04-29 23:48 By Jam Kaimo Samonte 1 min. read

Gold traded around $4,550 an ounce on Thursday, hovering at one-month lows as surging energy costs intensified inflation worries and strengthened expectations that major central banks may need to raise interest rates.

President Donald Trump said the US would keep its naval blockade on Iran in place until it agrees to a nuclear deal, while Tehran accused Trump of attempting to force the country into submission through economic pressure and internal divisions.

The prolonged Middle East conflict and the near-shutdown of the Strait of Hormuz unsettled global markets, prompting traders to scale back bets on rate cuts this year and instead begin pricing in the possibility of a hike by 2027.

Meanwhile, the US Federal Reserve left its policy settings unchanged as widely expected, although four officials dissented, underscoring rising divisions over the policy outlook amid heightened uncertainty stemming from the Iran conflict.



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Gold Hovers 1-Month Low on Inflation Risks
Gold traded around $4,550 an ounce on Thursday, hovering at one-month lows as surging energy costs intensified inflation worries and strengthened expectations that major central banks may need to raise interest rates. President Donald Trump said the US would keep its naval blockade on Iran in place until it agrees to a nuclear deal, while Tehran accused Trump of attempting to force the country into submission through economic pressure and internal divisions. The prolonged Middle East conflict and the near-shutdown of the Strait of Hormuz unsettled global markets, prompting traders to scale back bets on rate cuts this year and instead begin pricing in the possibility of a hike by 2027. Meanwhile, the US Federal Reserve left its policy settings unchanged as widely expected, although four officials dissented, underscoring rising divisions over the policy outlook amid heightened uncertainty stemming from the Iran conflict.
2026-04-29
Gold Drops to 1-Month Low
Gold fell to below $4,550 per ounce on Wednesday, the lowest in one month, amid pressure from higher energy prices and their hawkish impact on major central banks. Oil and gas prices rose further toward the turn of the month after US President Trump spoke against an imminent deal with Iran without an agreement on their nuclear arsenal, prolonging the suspension of energy exports from the Middle East. Higher energy prices already drove FOMC members to dissent against the easing bias the Fed presented in its latest policy decision, which saw their rates unchanged. Higher interest rates reduce the appeal for investors to hold non-yielding assets in bullion, denting demand for precious metals. The BoJ also presented hawkish signals in its recent meeting. The ECB and BoE is due to decide on rates tomorrow.
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Gold Hits 4-week Low
Gold decreased to 4554.00 USD/t.oz, the lowest since March 2026. Over the past 4 weeks, Gold gained 0.98%, and in the last 12 months, it increased 39.31%.
2026-04-29