SPDR Gold Trust

GLD

Market cap $132B

The gold market has been thrown a critical lifeline with prices jumping back toward $4,100 an ounce following a sharp drop in inflation pressures, which should give the Federal Reserve room to leave interest rates unchanged through the second half of the year.

Gold found support at $4,021 with recovering momentum while silver held $57.73 amid constrained supply growth ahead of USCPI and Kevin Warsh testimony. Central bank buying and expanding industrial demand for silver in solar, electronics, and EVs provided a solid foundation for both metals.

Gold fell in early Asian trade. A broad rise in global bond yields was likely weighing on the precious metal, said Eleonex.

Gold's safe-haven narrative is weakening as the Iran conflict lifts oil prices and rate expectations, putting 2026 lows back within reach.

Gold's recent price decline reveals an important paradox: a stronger U.S. dollar can pressure gold prices in the short term while ultimately strengthening gold's long-term investment case, according to Paul Wong, managing partner and market strategist at Sprott Inc.

In this Metals Spotlight segment, Bloomberg's Metals Reporter Jack Ryan talks about how oil prices and a renewed US blockade of the Strait of Hormuz are impacting gold and silver prices. Bullion slid below $4,000 an ounce during trading on Monday as Fed Governor Christopher Waller said policymakers may need to raise rates in the near term.

The gold market may be consolidating around $4,000 an ounce, but one market strategist believes investors should focus less on short-term price swings and more on gold's evolving role in the global financial system.

Gold is down 7.6% so far this year, while silver prices are down 17.8%.

The metal declined again Monday after the U.S. and Iran traded a fresh round of attacks.

Precious metals are moving lower as traders bet on hawkish Fed.