Gold prices have plummeted on Thursday, extending yesterday's losses amid fresh escalation in the gulf war, with Israel and Iran trading attacks on energy facilities. Accelerated concerns of inflation due to the subsequent surge in oil prices are driving investors away from precious metals.
Front Month Comex Gold for April delivery has plunged by $289.50 (or 5.91%) to $4,606.70 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.