Gold climbed for a second straight session to $4,580 an ounce on Friday after reports that the US and Iran may extend their ceasefire. However, prices remained on track for a 0.8% monthly decline, pressured by inflation concerns and expectations of prolonged higher interest rates. Negotiations to end the three-month war continued, with reports of a tentative 60-day ceasefire extension to allow formal talks, though President Trump has yet to approve the agreement. Despite potential progress, bullion faced headwinds as disruptions to shipping and energy infrastructure could keep oil prices elevated, maintaining a cautious stance from the Federal Reserve. US inflation data this month showed the fastest rise in three years in April, reinforcing expectations that the Fed will keep rates unchanged well into 2027. Elsewhere, gold demand in India stayed weak due to high prices and import duties, while premiums in top consumer China narrowed amid cautious market sentiment.

Gold rose to 4,541.41 USD/t.oz on May 29, 2026, up 1.02% from the previous day. Over the past month, Gold's price has fallen 1.76%, but it is still 38.07% higher than a year ago, 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 May 31 of 2026.

Gold rose to 4,541.41 USD/t.oz on May 29, 2026, up 1.02% from the previous day. Over the past month, Gold's price has fallen 1.76%, but it is still 38.07% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Gold is expected to trade at 4574.89 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 4942.87 in 12 months time.



Price Day Month Year Date
Gold 4,541.41 45.91 1.02% -1.76% 38.07% May/29
Silver 75.24 -0.345 -0.46% 2.19% 128.08% May/29
Copper 6.36 -0.0365 -0.57% 7.32% 36.06% May/29
Steel 3,180.00 15.00 0.47% -0.47% 5.40% May/29
Lithium 177,500.00 2000 1.14% 0.28% 192.42% May/29
Platinum 1,929.50 2.20 0.11% -3.26% 84.10% May/29
Iron Ore 108.82 -0.22 -0.20% 1.53% 9.79% May/29



Related Last Previous Unit Reference
China Gold Reserves 2313.46 2306.30 Tonnes Mar 2026
United States Gold Reserves 8133.46 8133.46 Tonnes Mar 2026
Russia Gold Reserves 2304.75 2326.52 Tonnes Mar 2026
Italy Gold Reserves 2451.84 2451.87 Tonnes Mar 2026
India Gold Reserves 880.52 880.18 Tonnes Mar 2026
Germany Gold Reserves 3350.25 3350.25 Tonnes Dec 2025
France Gold Reserves 2437.00 2437.00 Tonnes Dec 2025
United States Inflation Rate 3.80 3.30 percent Apr 2026
United States Fed Funds Interest Rate 3.75 3.75 percent Apr 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
4541.41 4495.50 5608.35 34.83 1968 - 2026 USD/t oz. Daily

News Stream
Gold is up by 2%
Gold increased 2% to 4585.22 USD/t.oz
2026-05-29
Gold Rises on Ceasefire Hopes but Heads for Monthly Drop
Gold climbed for a second straight session to $4,580 an ounce on Friday after reports that the US and Iran may extend their ceasefire. However, prices remained on track for a 0.8% monthly decline, pressured by inflation concerns and expectations of prolonged higher interest rates. Negotiations to end the three-month war continued, with reports of a tentative 60-day ceasefire extension to allow formal talks, though President Trump has yet to approve the agreement. Despite potential progress, bullion faced headwinds as disruptions to shipping and energy infrastructure could keep oil prices elevated, maintaining a cautious stance from the Federal Reserve. US inflation data this month showed the fastest rise in three years in April, reinforcing expectations that the Fed will keep rates unchanged well into 2027. Elsewhere, gold demand in India stayed weak due to high prices and import duties, while premiums in top consumer China narrowed amid cautious market sentiment.
2026-05-29
Gold Holds Gains Amid US-Iran Peace Optimism
Gold steadied near $4,500 an ounce on Friday after recovering in the previous session, as reports of a preliminary agreement between the US and Iran eased concerns over inflation and interest rates. Washington and Tehran are reportedly set to extend their ceasefire by 60 days and begin talks over Iran’s nuclear program, while also considering unrestricted shipping through the Strait of Hormuz. Still, the report noted that President Donald Trump has not yet approved the proposed terms, while Vice President JD Vance said it remains too early to determine whether or when a deal with Iran could be finalized. Gold has faced strong selling pressure since late February as the surge in oil prices triggered by the Iran conflict fueled inflation worries and strengthened expectations for tighter monetary policy. Meanwhile, the US Federal Reserve is widely expected to keep interest rates unchanged this year, although policymakers continue to warn about persistent inflation risks.
2026-05-29