Gold prices posted strong gains on Tuesday, surging for the third consecutive session, as investors continued to price in more interest rate cuts this year despite mixed comments by Federal Reserve officials.
Front Month Comex Gold for September delivery jumped by $39.90 (or 1.07%) to $3,780.60 per troy ounce. Notably, this is a new record high for gold prices.
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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.