Precious Metals News
Gold is holding below $4,100 at its lowest levels since November.
Iran launched missile and drone attacks on U.S. bases in Jordan, Kuwait and Bahrain in retaliation for American strikes on Iranian targets around the Strait of Hormuz.
The decline was accompanied by accelerated outflows from global gold exchange-traded funds and a more bearish outlook among options traders.
On the CME FedWatch tool, the probability of at least one quarter-point rate hike before December 2026 surged to approximately 68–70%.
Gold edged higher on Tuesday supported by lower oil prices as tensions eased in the Middle East, but concerns about U.S. interest rate hikes ahead of key inflation data this week capped gains.
Gold steadied on Monday as prospects for a potential Israel-Iran ceasefire helped the metal rebound from session lows, though strong U.S. jobs data boosted expectations of a Federal Reserve rate hike and limited the upside.
Sovereign gold buying didn’t begin with the 2022 Russia sanctions.
The central bank gold demand continues to be driven primarily by Eastern European and Asian economies, the WGC report said.
India's Press Information Bureau in a post on X called the media report "fake" and said the physical stock of the precious metal remained unchanged.
The technical backdrop for gold has improved in recent weeks, with prices repeatedly finding support around 4,400 and momentum indicators beginning to turn higher.
Analysts noted that gold successfully tested and held its rising 200-day moving average near US$4,401 per ounce, reinforcing a key long-term support level.
As the diplomatic exchanges continued, Israel expanded its ground attack in Lebanon, shattering a brittle truce with its northern neighbor.
Unfortunately for current gold and silver investors, prices for both have reversed course since then.
The affidavit didn't say which agency employed Rush, but two people familiar with his employment history told NBC News that he was employed with the CIA.
The LBMA Gold Price PM fell 0.5% to US$4,506 per ounce last Friday, trimming its year-to-date gain to 3.2%.
Starting next Monday, large mining sites in No.6 gold producer Ghana must sell 30% of their output to the central bank, up from 20% currently.
Specifically, the catalyst was weekend reports that the US and Iran had largely agreed on a memorandum of understanding to reopen the Strait of Hormuz.
The move comes as the Indian rupee has weakened more than 7% year-to-date amid geopolitical uncertainty.
Spot gold rose 1.4% to $4,570.88 per ounce by 0045 GMT. U.S. gold futures for June delivery gained 1.1% to $4,572.90.
The US Dollar rose towards Tuesday's 5-week highs on the currency market, and betting on Federal Reserve policy put the consensus forecast for year-end interest rates at 3.83%.
Spot gold was at $4,481.48 per ounce, as of 0744 GMT, after earlier falling to its weakest level since March 30. U.S. gold futures for June delivery lost 0.6% to $4,483.70.
The precious metal fluctuated between positive and negative territory before easing toward $4,538 an ounce.
Furthermore, stronger U.S. inflation numbers drove bond yields up across the world, and it hurt gold big time.
Central bank buying has remained a structural tailwind through 2026.
Since the U.S.‑ and Israel‑backed military action began Feb. 28, Iran has largely restricted access through the Strait of Hormuz, a key artery for global energy supplies.