Gold prices climbed higher on Thursday as investors picked up the safe-haven asset amid concerns about a global economic slowdown and hopes that the Federal Reserve will hold rates unchanged for now.
A subdued dollar also contributed to the previous metal's advance. With inflation data from the U.S. and UK coming in cooler-than-expected, there are expectations that both the Fed and Bank of England will not hike rates and might even reduce rates by the middle of next year.
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Market Analysis
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.