Gold prices have slumped on Wednesday as the joint U.S.-Israeli strikes against Iran continue unabated, leading to a fresh surge in oil price that reinforced inflationary concerns and pushed the U.S. dollar value higher. In addition, traders parsed subdued U.S. consumer prices data.
Front Month Comex Gold for April delivery has tumbled by $59.7 (or 1.14%) to $5,182.40 per troy ounce.
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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.