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Gold Slips to $4,700 as Oil Rally and Dollar Gains Persist

June gold futures dipped to $4,700.20 early on April 24, down 0.2% from Thursday's open at $4,715.60, pressured by a 11.5% Brent crude surge over five days and 0.7% dollar index rise fueling inflation fears. The week began with gold opening at $4,842.40 on April 21, sliding to $4,801.80 on dollar strength, then hitting a low open of $4,738.70 on April 22 before rebounding to $4,774.50. Losses accelerated April 23 to $4,705 spot amid stalled Iran talks, with analysts eyeing $4,550 support amid elevated volatility.

Category

Gold

Sentiment

Neutral

Event

Price movement

Reading time

1 min