After a steep run-up, the precious metal—long considered a hedge in times of distress—has taken a dive. But the selloff may have had more to do with profit-taking than anything else.
Gold was little changed to lower on Friday but remained on course for a weekly decline, as higher oil prices, firmer dollar and rising Treasury yields reduced the appeal of bullion despite continued geopolitical tension in the Middle East. Spot gold was last near $4,675 an ounce, after hitting $4,697.06 in the previous session and easing further toward the $4,700 level.
Gold edged lower in early Asian trade amid ongoing concerns over higher inflation caused by rising crude oil prices stemming from the U.S.-Iran conflict.
Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.
GraniteShares' 3x Long and 3x Short XRP ETFs were supposed to launch on NASDAQ today, April 23.
Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.
So far, 2026 has been a volatile year across multiple assets and asset classes, considering it simultaneously featured steep pullbacks, significant recessionary fears, but also indices such as the benchmark S&P 500 recording multiple consecutive all-time highs.
Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations.
Gold dropped slightly on Thursday, as traders continue to watch the bond markets for clues as to whether or not risk appetite continues to build or drop.
Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.
Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.
Gold fell to a two-week low on Friday as oil prices pushed back above $100 a barrel after renewed military tension between the US and Iran heightened inflation concerns and reinforced expectations that interest rates may stay higher for longer. Spot gold was down 0.7% at $4,705.09 an ounce, while US gold futures for June delivery slipped 0.6% to $4,705.10.