Live Updates > Live Update Details
2026-05-29 10:27:55
[Gold Prices Rise Slightly Amidst Intertwined News of US-Iran Ceasefire and Interest Rate Outlook] 1. Gold prices rose slightly in early Asian trading on Friday, with spot gold initially gaining 0.5% to $4,520 per ounce. Investors are assessing news regarding an extension of the ceasefire between the US and Iran, while concerns about inflationary pressures and the prospect of a Federal Reserve rate hike persist. 2. Gold prices fell to a two-month low in the previous trading session before recovering following news of an extended US-Iran ceasefire. Sources revealed that the US and Iran have reached a draft agreement on extending the ceasefire and restoring freedom of navigation in the Strait of Hormuz. However, US President Trump has not yet approved the agreement, and Iranian state media also stated that the agreement has not been finalized. 3. On the economic data front, US inflation in April recorded its fastest pace in three years, mainly driven by energy prices pushed up by the war with Iran. This further reinforces the general view among economists that the Federal Reserve will keep interest rates unchanged at least until next year. 4. Several Federal Reserve officials have spoken out. St. Louis Fed President Moussalem stated that if inflation fails to slow down within the next six months, the Fed may need to consider raising interest rates. New York Fed President Williams believes that current monetary policy is appropriate, and while inflation is expected to remain high in the short term, pressures are likely to ease later this year. 5. Furthermore, data released by the Hong Kong Census and Statistics Department shows that China's net gold imports via Hong Kong increased significantly by 81.2% in April compared to the previous month.
