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2026-04-07 14:26:31
Gold prices dipped slightly as markets awaited Trump's deadline on Iran. 1. Spot gold fell slightly by 0.2% to around $4,640 per ounce on Tuesday. Investors remained cautious ahead of Trump's deadline for Iran to reopen the Strait of Hormuz. 2. Tehran refused to reopen the strait and accept a ceasefire, leading to clashes between Iran and Israel. Trump threatened to "annihilate" Iran if it did not meet his demands. Oil prices continued their upward trend, remaining above $110, exacerbating inflation concerns. 3. Cleveland Fed President Hamak and Chicago Fed President Goolsby both believe that inflation is far more serious than employment, highlighting support for maintaining tight monetary policy. The market generally believes that the possibility of a Fed rate cut this year is zero. 4. Investors are awaiting the release of the Fed's March policy meeting minutes on Wednesday and PCE and CPI data later this week. Analysts say that as risk factors subside, gold prices may approach the $5,500-$6,000 range by the end of the year.
