Published on 4/30/2026
Gold prices recovered today, Thursday, after recording the lowest level in a month the previous day.
The recovery was supported by the weakness of the dollar, despite the rise in oil prices, which kept concerns about inflation and the continued rise in interest rates for a longer period.
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Gold rose in instant transactions by 1.12% to $4,594.33 per ounce by 07:10 GMT, after falling to its lowest level since March 31 in the previous session.
US gold futures for June delivery rose 1% to $4,607.65.
The rise in the yellow metal coincided with the decline of the dollar, which made gold priced in the US currency less expensive for holders of other currencies, which enhanced demand for it.
On the other hand, oil prices continued their strong rise, as Brent crude futures jumped by more than $8 to reach $126.09 per barrel, which is their highest level since March 2022.
Investors attribute these gains to the escalating stalemate in negotiations between America and Iran, which has raised concerns about the continuation of disruptions to oil supplies from the Middle East for a longer period.
Other precious metals
- Silver rose 1% in spot transactions to $72.18 per ounce.
- Platinum increased 1.7% to $1,911.
- Palladium rose 0.9% to $1,470.40.
