Gold prices have surged on Friday after Iran reopened the Strait of Hormuz fully until April 22. This development eased oil prices, and with inflationary pressure reducing, the U.S. dollar weakened, pushing yellow metal prices higher.
Front Month Comex Gold for June month delivery has climbed sharply by $77.20 (or 1.61%) to $4,885.50 per troy ounce.
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Market Analysis
April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.