Published On 4/24/2026
Global markets moved between caution and anticipation as tensions related to the war between America and Iran continued, as the dollar recorded its first weekly gains in about a month, while oil remained above the $100 barrier, while gold and Bitcoin were under pressure as a result of rising returns and inflation fears. According to what Reuters reported, indications of the possible resumption of peace talks have eased some tensions, but have not completely dispelled anxiety.
The dollar index fell during Friday trading by 0.23% to 98.595 points, but was still heading towards achieving its first weekly gain in nearly a month, after benefiting during the past days from safe haven requests. The euro also rose 0.3% to 1.1172 dollars, and the British pound rose 0.2%, while the Japanese yen recovered 0.2% to 159.4 yen to the dollar, according to Reuters.
Tommy von Bromsen, currency strategist at Handelsbanken, said the main problem for markets during the week was “the lack of real progress in the peace talks,” adding that the absence of a clear timeline makes pricing more difficult.
Oil holds its gains
Bloomberg reported that Brent crude fell during the session after reports of an expected second round of US-Iranian talks in Pakistan, but it remained near $105.36 a barrel in London, while West Texas Intermediate crude traded at $95.72.
Despite the daily decline, Brent remained on track to achieve weekly gains of approximately 17%, the largest since the first surge in the war in early March, according to Bloomberg. Ole Hansen, head of commodity strategy at Saxo Bank, said that “hopes for a peace agreement have returned to the fore,” but resolving outstanding issues is still necessary.
Gold is losing weekly
Reuters indicated that gold was heading towards recording its first weekly loss in five weeks, despite its slight rise on Friday. Spot gold rose 0.3% to $4,704.63 per ounce, but remained down 2.5% this week, while US futures fell 0.1% to $4,721.10.
Giovanni Stonovo, an analyst at UBS, said that the movement of gold remained linked to oil, explaining that the rise of crude oil raised expectations of interest, the dollar, and returns, which are factors that put pressure on the precious metal. The ten-year US Treasury bond yield also rose 1.6% this week, increasing the cost of holding non-yielding gold.
Bitcoin is below $78,000
In the digital assets market, Investing.com reported that Bitcoin fell below $78,000 to approximately $77,794, but remained on its way to achieving a fourth consecutive weekly gain of about 4%.
So SoValue data showed continued strong inflows into spot Bitcoin exchange-traded funds listed in America, with net inflows of nearly $1 billion within a week, while total cumulative inflows exceeded $58 billion, with assets revolving around $100 billion.
Between a strong dollar, high oil, cautious gold, and volatile Bitcoin, the markets seem stuck between the possibility of a diplomatic breakthrough and a geopolitical reality that is still capable of changing trends quickly.
