Geopolitical tensions in the Middle East had remained the primary macro driver for the gold market over recent weeks; however, on 8 April the situation shifted sharply as the United States and Iran agreed to a temporary two-week ceasefire, including the reopening of the Strait of Hormuz and a pause in military strikes. The easing of acute tensions triggered a sharp decline in oil prices and a return of risk appetite across global markets, weighing on demand for safe-haven assets.
Gold: Rangebound trade before US CPI – DBS
Saudi Arabia Gold price today: Gold steadies, according to FXStreet data
Philippines Gold price today: Gold steadies, according to FXStreet data
United Arab Emirates Gold price today: Gold steadies, according to FXStreet data
Pakistan Gold price today: Gold steadies, according to FXStreet data
India Gold price today: Gold steadies, according to FXStreet data
Malaysia Gold price today: Gold steadies, according to FXStreet data
Gold edges lower as Hormuz risks fuel inflation worries and hawkish Fed bets before US CPI
Gold remains volatile as ceasefire developments and geopolitical tensions drive price swings, while weak US data supports the metal and key technical levels will decide the next move.
Gold declines to near $4,750 as oil-driven inflation worries weigh ahead of US CPI data
Gold nears $4,800 as softer Dollar and yields lift demand