Gold prices have pulled back sharply on Monday as investors rush to the U.S. dollar after skyrocketing oil prices due to the war in the Middle East aggravated concerns of inflation along with forecasts that global major banks would adopt a hawkish stance in the near-term.
Front Month Comex Gold for April delivery has tumbled $54.6 (or 1.06%) to $5,104.10 per troy ounce.
Front Month Comex Silver for April delivery has dipped by $0.216 (or 0.26%) to $84.230 per troy ounce.
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Market Analysis
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.