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Market & Economic Intelligence Platform Insight on Macro, Commodities, Equities & Policy

24 April 2026 16:57  |

Oil Rise Triggers Inflation Risks, Gold Heads for Weekly Loss

Gold prices were flat on Friday (April 24) but remained headed for a weekly decline, as rising oil prices and limited US dollar strength reignited inflation concerns and supported expectations of extended high interest rates.

At 5:11 a.m. ET (9:11 a.m. GMT), spot gold was relatively unchanged at US$4,692.41/oz, while gold futures fell 0.4% to US$4,707.09/oz. For the week, spot gold fell 2.9% and gold futures fell 3.5%, with pressure coming from a surge in oil prices due to uncertainty surrounding the US-Iran conflict after peace talks stalled—conditions that tend to weigh on non-yielding assets like gold. (gn)

Gold Price at the Time of This Analysis' Release: $4,681

- Buy if the price moves to $4,696

- Sell if the price moves to $4,683

Resistance 2: $4,716

Resistance 1: $4,703

Support 1: $4,677

Support 2: $4,664

Note: This article is analytical in nature and not a definitive reference. Please consider the impact of fundamental and technical developments on trading before making any investment decisions.

Source: Newsmaker.id

 

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