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Update: Gold Moves Lower Again as Dollar Rises On U.S. Retail Sales Surge and Hopes of An End To Middle East War

(Updates prices.)Gold prices were down a second day midafternoon Tuesday as the dollar rose after U.S. retail sales rose above expectations last month, while talks between the United States and Iran could see an end to the Middle East war that has sent the price of oil and other commodities higher.Gold for May delivery was last seen down US$105.50 to US$4,723.30 per ounce.The U.S. Census Bureau on Tuesday said March retail sales rose by 1.7%, up from a revised 0.7% a month earlier and ahead of the consensus estimate for a rise of 1.5%, according to Marketwatch. The rise was the highest in more than three years, CNN reported, but came on a record jump in gasoline prices due to the U.S. war on Iran.Talks to end the war are expected to begin in Pakistan as a two-week ceasefire is set to end tomorrow. A deal could see an end to the closure of the Strait of Hormuz and lower high prices for oil and other commodities trapped in the Persian Gulf. However, Iran has not publicly confirmed it will send negotiators to Pakistan to meet with the United States, though the Wall Street Journal reports Iran has told mediators it will send a team to the talks."Gold is consolidating as traders assess the prospects for renewed US-Iran talks and the approaching ceasefire deadline. Its near-term trajectory remains closely linked to developments in the Middle East, given the potential spillover into inflation expectations, the dollar, bond yields, and US rate outlook," Saxo Bank wrote.The dollar was higher early, with the ICE dollar index was last seen up 0.33 points to 98.43. Treasury yields were also higher, with the yield on the U.S. two-year note up 6.3 basis points to 3.788%, while the yield on the 10-year note was paying 4.297%, up 4.3 points.

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Sectors

Gold Moves Lower Again as Dollar Rises On U.S. Retail Sales Surge and Hopes of An End To Middle East War

Gold prices fell for a second day early Tuesday as the dollar rose after U.S. retail sales rose above expectations last month, while talks between the United States and Iran could see an end to the Middle East war that has sent the price of oil and other commodities higher.Gold for May delivery was last seen down $21.60 to US$4,807.20 per ounce.The U.S. Census Bureau on Tuesday said March retail sales rose by 1.7%, up from a revised 0.7% a month earlier and ahead of the consensus estimate for a rise of 1.5%, according to Marketwatch. The rise was the highest in more than three years, CNN reported, but came on a record jump in gasoline prices due to the U.S. war on Iran.Talks to end the war are expected to begin in Pakistan as a two-week ceasefire is set to end tomorrow. A deal could see an end to the closure of the Strait of Hormuz and lower high prices for oil and other commodities trapped in the Persian Gulf. However, Iran has not publicly confirmed it will send negotiators to Pakistan to meet with the United States, though the Wall Street Journal reports Iran has told mediators it will send a team to the talks."Gold is consolidating as traders assess the prospects for renewed US-Iran talks and the approaching ceasefire deadline. Its near-term trajectory remains closely linked to developments in the Middle East, given the potential spillover into inflation expectations, the dollar, bond yields, and US rate outlook," Saxo Bank wrote.The dollar was higher early, with the ICE dollar index was last seen up 0.17 points to 98.26. Treasury yields were also higher, with the yield on the U.S. two-year note up 4.4 basis points to 3.769%, while the yield on the 10-year note was paying 4.272%, up 1.8 points.

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Sectors

Update: Gold Falls As Dollar and Yields Rise as Iran Again Closes the Strait of Hormuz

(Updates prices.)Gold traded lower early on Monday as the dollar rose while hopes for an end to the war on Iran faded after Iran on Friday opened and then closed the Strait of Hormuz, pushing up oil prices and the dollar on worries over higher inflation and interest rates.Gold for May delivery was last seen down US$51.80 to US$4,827.80 per ounce.Gold rose on Friday after Iran briefly reopened the Strait of Hormuz, the chokepoint for 20% of daily global oil demand supplied by Persian Gulf nations. However, later it again refused to permit transit through the waterway as the United States declined to end its blockade of Iran's ports.The United States is sending negotiators to Pakistan for peace talks. While Iran has not confirmed it will attend h after the U.S. Navy disabled and seized a Iranian cargo ship in the Gulf over the weekend. However the Wall Street Journal reported it informed Pakistan it will send a team of to the talks. A ceasefire between the two countries ends tomorrow, with U.S. President Trump again threatening to attack Iranian civilian infrastructure unless a deal is reached.The closure of the Strait has produced the largest-ever energy supply shock, pushing up physical oil prices along with gasoline and diesel costs and causing widespread shortages of aviation fuel, raising inflation and concerns central banks will need to hike interest rates in response."The latest weakness has been driven by renewed dollar strength and fresh concerns about energy-led inflation. Gold and silver, like many other commodities, remain highly sensitive to developments in the Middle East given the knock-on impact on the dollar, bond yields, and US rate expectations," Saxo Bank wrote in a note to clients.The dollar weakened, with the ICE dollar index last seen down 0.2 points to 98.07. Treasury yields were higher, with the U.S. two-year note last seen paying 3.725%, up 1.3 basis points, while the yield on the 10-year note was up 0.4 points to 4.255%.

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Sectors

Gold Falls As Dollar and Yields Rise as Iran Again Closes the Strait of Hormuz

Gold traded lower early on Monday as the dollar rose while hopes for an end to the war on Iran faded after Iran on Friday opened and then closed the Strait of Hormuz, pushing up oil prices and the dollar on worries over higher inflation and interest rates.Gold for May delivery was last seen down $54.90 to US$4,824.70 per ounce.Gold rose on Friday after Iran briefly reopened the Strait of Hormuz, the chokepoint for 20% of daily global oil demand supplied by Persian Gulf nations. However, later it again refused to permit transit through the waterway as the United States declined to end its blockade of Iran's ports.The United States is sending negotiators to Pakistan for peace talks but The Guardian reported Iran has no plans to attend after the U.S. Navy disabled and seized a Iranian cargo ship in the Gulf over the weekend. A ceasefire between the two countries ends tomorrow, with U.S. President Trump again threatening to attack Iranian civilian infrastructure unless a deal is reached.The closure of the Strait has produced the largest-ever energy supply shock, pushing up physical oil prices along with gasoline and diesel costs and causing widespread shortages of aviation fuel, raising inflation and concerns central banks will need to hike interest rates in response."The latest weakness has been driven by renewed dollar strength and fresh concerns about energy-led inflation. Gold and silver, like many other commodities, remain highly sensitive to developments in the Middle East given the knock-on impact on the dollar, bond yields, and US rate expectations," Saxo Bank wrote in a note to clients.The dollar rose early, with the ICE dollar index last seen up 0.14 points to 98.24 points. Treasury yields were also higher, with the U.S. two-year note last seen paying 3.739%, up 2.7 basis points, while the yield on the 10-year note was up 1.5 points to 4.266%.

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Sectors

Update: Gold Rises As the USD and Yields Drop, Oil Prices Plunge, as Iran Reopens the Strait of Hormuz

(Updates prices.)Gold was higher midafternoon Friday following as Iran reopened to Strait of Hormuz to commercial traffic, ending the largest ever energy supply shock and easing inflation fears.Gold for May delivery was last seen up US$75.30 to US$4,883.60 per ounce.CNBC reported Iran has reopened the Strait of Hormuz to commercial traffic, freeing tankers that have been trapped in the Persian Gulf since the United States and Israel launched their war on the country on Feb. 28 and allowing the resumption of exports from the Persian Gulf region that supplies 20% of daily oil demand.Oil prices are plunging following the declaration, with West Texas Intermediate crude oil last seen down 11% to US$84.38 per barrel, easing worries a sustained period of high energy prices will boost inflation and force central banks to raise interest rates.The dollar was lower on following Iran's decision, with the ICE dollar index last seen down 0.19 points to 98.02. Treasury yields were also lower, with yield on the U.S. two-year note last seen down 7.4 basis points to 3.712%, while the 10-year note was paying 4.249%, down 7.1 points.

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Sectors

Gold Rises As the USD and Yields Drop and Oil Prices Plunge After Iran Reopens the Strait of Hormuz

Gold prices rose early Friday following reports Iran has reopened to Strait of Hormuz to commercial traffic, ending the largest ever energy supply shock and easing inflation fears.Gold for May delivery was last seen up $53.50 to US$4,861.80 per ounce.CNBC reported Iran has reopened the Strait of Hormuz to commercial traffic, freeing tankers that have been trapped in the Persian Gulf since the United States and Israel launched their war on the country on Feb. 28 and allowing the resumption of exports from the Persian Gulf region that supplies 20% of daily oil demand.Oil prices are plunging following the declaration, with West Texas Intermediate crude oil last seen down 9.2% toS$85.48 per barrel, the lowest since March 10, easing worries a sustained period of high energy prices will boost inflation and force central banks to raise interest rates.The dollar was sharply lower on following Iran's decision, with the ICE dollar index last seen down 0.44 points to 97.76. Treasury yields were also lower, with yield on the U.S. two-year note last seen down 6.9 basis points to 3.717%, while 10-year note was paying 4.238%, down 8.2 points.

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Sectors

Update: Gold Edges Lower, Remaining Rangebound on Inflation Worries

(Updates prices.)Gold price weakened midafternoon Thursday, remaining rangebound below US$5,000 as high oil and gas prices threaten to boost inflation and interest rates.Gold for May delivery was last seen down US$15.40 to US$4,808.20 per ounce.The precious metal has stuck well under its Jan. 29 record high of US$5,354.80 as the U.S-Israel war on Iran keeps the Strait of Hormuz closed, blocking the 20% of daily oil and LNG demand from Persian Gulf nations off the market, sending prices higher and promising to reignite inflation.Further threats from U.S. President Trump to fire Federal Reserve Chair Jerome Powell if he stays in position after his term ends on May 15 are also again unsettling the market. Powell intends to stay in the position until his replacement, Kevin Warsh, is confirmed by the Senate. Trump said if Powell remains in the post past his term, he will try to fire him."The vibes are in force in many markets, gold included. With an unresolved war and tenuous ceasefire, there are still ample inflation pressures to be concerned about. Additionally, with President Trump again commenting on firing Powell, we think that the general sense of uncertainty is in the early innings of a gold-positive reappearance," Christopher Louney, a gold and natural gas strategist at RBC Capital Markets, wrote.The dfollar moved higher, with the ICE dollar index last seen up 0.22 points to 98.27. Treasury yields rose, with the U.S. two-year note last seen paying 3.78%, up 1.0 basis points, while the yield on the 10-year note was down 2.3 points to 4.311%.

$GCK6$GLD
Sectors

Gold Moved Higher Early Thursday, But Remained Rangebound on Inflation Worries

Gold traded higher early Thursday but remained rangebound below US$5,000 as high oil and gas prices threaten to boost inflation and interest rates.Gold for May delivery was last seen up $15.60 to US$4,839.20 per ounce.The precious metal has stuck well under its Jan. 29 record high of US$5,354.80 as the U.S-Israel war on Iran keeps the Strait of Hormuz closed, blocking the 20% of daily oil and LNG demand from Persian Gulf nations off the market, sending prices higher and promising to reignite inflation.Further threats from U.S. President Trump to fire Federal Reserve Chair Jerome Powell if he stays in position after his term ends on May 15 are also again unsettling the market. Powell intends to stay in the position until his replacement, Kevin Warsh, is confirmed by the Senate. Trump said if Powell remains in the post past his term, he will try to fire him."The vibes are in force in many markets, gold included. With an unresolved war and tenuous ceasefire, there are still ample inflation pressures to be concerned about. Additionally, with President Trump again commenting on firing Powell, we think that the general sense of uncertainty is in the early innings of a gold-positive reappearance," Christopher Louney, a gold and natural gas strategist at RBC Capital Markets, wrote.The edged higher early, with the ICE dollar index last seen up 0.12 points to 98.18. Treasury yields edged down, with the U.S. two-year note last seen paying 3.765%, down 0.5 basis points, while the yield on the 10-year note was down 1.1 points to 4.277%.

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Sectors

Update: Gold Edges Lower as Inflation Concerns Rise Amid Violence in the Middle East

(Updates prices.)Gold moved lower midafternoon on Wednesday as the dollar eased, with the price of the precious metal rangebound amid faltering hopes for lower U.S. interest rates as the war on Iran pushes up energy prices.Gold for May delivery was last seen down $29.10 to US$4,821.00 per ounce.The metal has been trading in a narrow range for the past three weeks, as its reputation as a store of value falters with the war on Iran keeping 20% of daily oil demand from the market, raising prices and threatening to boost inflation and raise interest rates, bearish for a commodity that pays no interest. "A sustained breakout likely depends on further constructive developments in the Middle East," Saxo Bank noted.The dollar edgedlower, with the ICE dollar index last seen down 0.05 points to 98.08. Treasury yields rose, with the U.S. two-year note last seen paying 3.776%, up 2.1 basis points, while the yield on the 10-year note was up 3.3 points to 4.287%.

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Sectors

Gold Edges Lower as the Dollar Rises Amid Violence in the Middle East

Gold moved lower early Wednesday as the dollar edged higher, keeping the price of the precious metal rangebound amid faltering hopes for lower U.S. interest rates as the war on Iran pushes up energy prices. Gold for May delivery was last seen down $15.50 to US$4,834.60 per ounce.The metal has been trading in a narrow range for the past three weeks, as its reputation as a store of value falters with the war on Iran keeping 20% of daily oil demand from the market, raising prices and threatening to boost inflation and raise interest rates, bearish for a commodity that pays no interest. "A sustained breakout likely depends on further constructive developments in the Middle East," Saxo Bank noted.The dollar edged higher early, with the ICE dollar index last seen up 0.06 points to 98.18. Treasury yields rose, with the U.S. two-year note last seen paying 3.768%, up 1.1 basis points, while the yield on the 10-year note was up 1.8 points to 4.272%.

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Sectors

Update: Gold Moves Higher as the Dollar Weakens as U.S. Wholesale Price Inflation Rose Less Than Expected

(Updates prices.)Gold traded higher midafternoon on Tuesday as the dollar fell after the United States reported U.S. wholesale price inflation rose less than expected last month.Gold for May delivery was last seen up US$82,90 to US$4,850.30 per ounce.The U.S. Bureau of Labor Statistics reported the seasonally adjusted March Producer Price Index (PPI) rose by 0.5%, unchanged from the prior month and well below the consensus estimate for a rise of 1.1% according to Marketwatch. Core PPI, excluding volatile food and energy, rose by 0.2%, down from 0.5% in February and under expectations for 0.4% rise."More than half of the March increase in the index for processed goods for intermediate demand can be attributed to a 42.0-percent jump in prices for diesel fuel. The indexes for gasoline, jet fuel, primary basic organic chemicals, steel mill products, and residual fuels also rose," the agency said.The dollar was lower following the data, with the ICE dollar index last seen down 0.29 points to 98.08, the lowest since Feb.27. Treasury yields were lower, with the yield on the U.S. two-year note was down 2.1 basis points to 3.762%, while the yield on the 10-year note was down 3.2 points to 4.261%.

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Mining & Metals

Gold Moves Higher as the Dollar Weakened as U.S. Wholesale Price Inflation Rose Less Than Expected in March

Gold traded higher early on Tuesday as the dollar fell after the United States reported U.S. wholesale price inflation rose less than expected last month.Gold for May delivery was last seen up US$22,90 to US$4,790.30 per ounce.The U.S. Bureau of Labor Statistics reported the seasonally adjusted March Producer Price Index (PPI) rose by 0.5%, unchanged from the prior month and well below the consensus estimate for a rise of 1.1% according to Marketwatch. Core PPI, excluding volatile food and energy, rose by 0.2%, down from 0.5% in February and under expectations for 0.4% rise."More than half of the March increase in the index for processed goods for intermediate demand can be attributed to a 42.0-percent jump in prices for diesel fuel. The indexes for gasoline, jet fuel, primary basic organic chemicals, steel mill products, and residual fuels also rose," the agency said.The dollar was lower following the data, with the ICE dollar index last seen down 0.37 points to 98.00, the lowest since Feb.27. Treasury yields were mostly steady, with the yield on the U.S. two-year note was up 0.4 basis points to 3.787%, while the yield on the 10-year note was up 0.3 points to 4.296%.

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Sectors

Update: Gold Falls Again As Dollar Rises After U.S. and Iran Fail to Reach a Peace Deal

(Updates prices.)Gold prices weakened for a second session midafternoon on Monday as the dollar rose after weekend talks between the United States and Iran failed to reach a peace deal, leaving the Strait of Hormuz blocked and continuing the largest-ever oil supply shock.Gold for May delivery was last seen down US$20.20 to US$4,767.20 per ounce.Talks between the U.S. and Iran ended without an agreement to end the war that has blocked the Strait of Hormuz and cut off the 20% of global daily oil demand supplied by Persian Gulf nations. The U.S. plans to blockade Iran's ports following the collapse of the negotiations and block any ships transiting the Strait that have paid a toll to Iran, continuing to keep oil from the market.Oil prices have climbed by nearly half since the Feb. 28 start to the war, pushing up inflation in the U.S. and elsewhere, ending hopes for lower U.S. interest rates. The U.S. last week reported its Consumer Price Index surged by 3.3% annualized in March, up from 2.4% a month earlier.The dollar was higher early, with the ICE dollar index last seen up 0.10 points to 98.55. Treasury yields were lower, with the yield on the U.S. two-year note last seen down `1.7 basis points to 3.793%, while the 10-year note was paying 4.308%, down 3.2 points.

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Sectors

Gold Falls Again As Dollar Rises After U.S. and Iran Fail to Reach a Peace Deal

Gold prices look set to be down for a second day, falling again early Monday as the dollar rose after weekend talks between the United States and Iran failed to reach a peace deal, leaving the Strait of Hormuz blocked and continuing the largest-ever oil supply shock.Gold for May delivery was last seen down $51.90 to US$4,736.00 per ounce.Talks between the U.S. and Iran ended without an agreement to end the war that has blocked the Strait of Hormuz and cut off the 20% of global daily oil demand supplied by Persian Gulf nations. The U.S. plans to blockade Iran's ports following the collapse of the negotiations and block any ships transiting the Strait that have paid a toll to Iran, continuing to keep oil from the market.Oil prices have climbed by nearly half since the Feb. 28 start to the war, pushing up inflation in the U.S. and elsewhere, ending hopes for lower U.S. interest rates. The U.S. last week reported its Consumer Price Index surged by 3.3% annualized in March, up from 2.4% a month earlier.The dollar was higher early, with the ICE dollar index last seen up 0.25 points to 98.90. Treasury yields were little changed, with the yield on the U.S. two-year note last seen unchanged at 3.81%, while the 10-year note was paying 4.33%, down 1.0 points.

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Sectors

Update: Gold Trading Lower as U.S. Inflation Surged in March on Higher Gasoline Prices

(Updates prices.)Gold futures eased midafternoon on Friday even as the dollar weakened after a report showed U.S. inflation surged in March on higher gasoline prices, cutting hopes for a cut to interest rates from the Federal Reserve.Gold for May delivery was last seen down US$28.50 to US$4,789.50 per ounce.The U.S. Bureau of Labor Statistics reported the March Consumer Price Index (CPI) rose to a 3.3% annualized rate in March, the highest since May 2024, up from 2.4% in February, but matching expectations, according to Marketwatch. Core CPI, excluding volatile food and energy prices, rose 2.6%, up from 2.5% a month earlier but came in under the consensus estimate for a 2.7% rise.The Bureau said the rise came on higher gasoline prices "which accounted for nearly three quarters of the monthly all items increase". Fuel prices have surged since the United States and Israel launched their war on Iran on Feb. 28 and Iran closed the Strait of Hormuz, cutting off 20% of daily oil supply from Persian Gulf countries.Gold remains well below its Jan. 29 record high of US$5,354.80 per ounce as rising inflation ends hope for lower U.S. interest rates. The CME FedWatch Tool expects the Federal Reserve to leave interest rates unchanged for the remainder of the year, bearish for gold since it pays no interest.The dollar was lower early, with the ICE dollar index last seen down 0.11 points to 98.71. Treasury yields rose, with the U.S. two-year note last seen paying 3.814%, up 4.1 basis points, while the yield on the 10-year note was up 4.1 points to 4.322%.

$GCK6$GLD
Sectors

Gold Trading Lower as U.S. Inflation Surged in March on Higher Gasoline Prices

Gold futures eased early Friday even as the dollar weakened after a report showed U.S. inflation surged in March on higher gasoline prices, cutting hopes for a cut to interest rates from the Federal Reserve.Gold for May delivery was last seen down $31.10 to US$4,786.90 per ounce.The U.S. Bureau of Labor Statistics reported the March Consumer Price Index (CPI) rose to a 3.3% annualized rate in March, the highest since May 2024, up from 2.4% in February, but matching expectations, according to Marketwatch. Core CPI, excluding volatile food and energy prices, rose 2.6%, up from 2.5% a month earlier but came in under the consensus estimate for a 2.7% rise.The Bureau said the rise came on higher gasoline prices "which accounted for nearly three quarters of the monthly all items increase". Fuel prices have surged since the United States and Israel launched their war on Iran on Feb. 28 and Iran closed the Strait of Hormuz, cutting off 20% of daily oil supply from Persian Gulf countries.Gold remains well below its Jan. 29 record high of US$5,354.80 per ounce as rising inflation ends hope for lower U.S. interest rates. The CME FedWatch Tool expects the Federal Reserve to leave interest rates unchanged for the remainder of the year, bearish for gold since it pays no interest.The dollar was lower early, with the ICE dollar index last seen down 0.14 points to 98.69. Treasury yields were mixed, with the U.S. two-year note last seen paying 3.793%, down 2.0 basis points, while the yield on the 10-year note was up 2.5 points to 4.306%.

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