Gold prices rose more than 1 percent on Friday amid hopes of easing Middle East tensions.
Spot gold surged 1.2 percent to $4,432 an ounce after falling nearly 3 percent in the previous session. The precious metal, however, remains on track for a weekly loss on inflation and rate-hike jitters.
The U.S. dollar is benefiting from risk aversion as the Middle East conflict showed no signs of easing, with fresh strikes reported in Iran, Israel and Lebanon.
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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.