Gold Hits 6-week Low

Gold decreased below 4500, according to trading on a contract for difference (CFD).

Gold decreased to 4483.00 USD/t.oz, the lowest since March 2026. Over the past 4 weeks, Gold lost 5.2%, and in the last 12 months, it increased 41.7%.

Gold slid to $4,530 an ounce on Friday and was on track to fall about 4% for the week, pressured by accelerating US inflation that fueled concerns the Federal Reserve may need to keep interest rates elevated or even hike them. Data released earlier this week showed US wholesale inflation surged at its fastest pace since 2022 in April, while consumer prices posted their largest increase since 2023. Inflationary pressures have been driven largely by the prolonged Middle East conflict and the near-shutdown of the critical Strait of Hormuz, which has severely disrupted global energy shipments. Markets have now fully ruled out a Fed rate cut this year, with some traders increasingly pricing in the possibility of a rate hike by December. Meanwhile, President Trump met with Chinese President Xi Jinping, discussing efforts to keep Hormuz open to preserve energy trade. Separately, India tightened gold import regulations further as authorities intensified measures to support the rupee.