Gold Edges Lower in Choppy Trade, Stays Near One-Month Lows After April Dip
Gold prices hovered around the flatline but finished slightly lower on Friday in a choppy session that saw swings on both sides, as the metal continued to trade near one-month lows after a modest decline in April. Volumes were subdued due to market holidays across much of Europe and Asia.
As of 16:57 ET (20:57 GMT), spot gold slipped 0.2% to $4,613.77/oz, while gold futures eased 0.1% to $4,626.75/oz. The back-and-forth price action reflected a market balancing near-term positioning against persistent macro headwinds.
On a monthly basis, spot prices fell about 1% in April, extending losses after a near 12% drop in March. Concerns over higher inflation linked to the Iran war pushed demand toward the dollar, weighing on gold.
A spike in oil prices also overshadowed bullion, with the conflict cited as disrupting global crude supplies and reinforcing energy-driven inflation risks. That dynamic has kept investors sensitive to how energy costs may filter into broader price pressures.
Gold and other metals were further pressured by a wave of hawkish signals from major central banks this week. More Fed policymakers flagged the risks of energy-led inflation, while the ECB, Bank of England, and Bank of Japan hinted at near-term rate hikes amid higher oil prices. Higher interest-rate expectations tend to raise the opportunity cost of holding non-yielding assets such as gold, limiting upside momentum.
Source : Newsmaker.id
