Gold prices fell sharply toward $4,600 an ounce on Tuesday, hitting a three-week low as elevated oil prices fueled concerns about inflation and the outlook for interest rates.
Spot gold tumbled 1.5 percent to $4,612.48 an ounce while U.S. gold futures were down 1.5 percent at $4,625.86.
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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.