Gold Stuck Near $4,816 as Hormuz Risks Offset Iran Diplomacy Hopes

Gold holds a tense $4,816/oz equilibrium in a $4,700-$4,900 range as Strait of Hormuz threats counter US-Iran diplomatic optimism. Prices crashed to $4,632/oz on April 13 after failed Islamabad talks, an oil spike to $98/barrel, and 3.3% US CPI slashing Fed cut odds to 21%, but rallied on ceasefire signals, a softer dollar, and central bank buying. Technically consolidating between the 100-day SMA ($4,708) and 50-day SMA ($4,898), neutral momentum keeps traders watching PPI data, oil swings, and peace progress for a volatility-driven breakout amid choppy flows.