Gold ticks higher
Spot gold rose about 1.5% to $4,861.32 per ounce on April 17 and U.S. futures settled roughly 1.5% higher at $4,879.60, marking more than a 2% weekly gain amid a softer dollar and macro uncertainty. ( ) Analysts connected the move to lower oil after the Strait of Hormuz reopened and persistent demand for safe‑liquid assets. (reuters.com)
Gold ended April 17 higher and posted a fourth straight weekly gain as investors bought bullion while the U.S. dollar softened and oil prices fell. (reuters.com) Spot gold rose about 1.5% to $4,861.32 an ounce on Thursday, April 17, and U.S. gold futures settled about 1.5% higher at $4,879.60. Reuters said the move left bullion up more than 2% for the week. (reuters.com) The immediate backdrop was a drop in crude after Iran said the Strait of Hormuz was open to commercial shipping during the ceasefire, while President Donald Trump said another U.S.-Iran meeting could happen over the weekend. Invezz reported oil fell about 13% on Friday as those signals hit the market. (invezz.com) Lower oil can ease inflation fears, and lower inflation pressure can reduce expectations for higher interest rates. Gold does not pay interest, so it usually holds up better when traders think rates will stay lower for longer. (invezz.com) The dollar also helped. Reuters reported the U.S. currency was heading for a second straight weekly decline on April 17, and Trading Economics showed the dollar index was down about 0.5% for the week even after a small daily uptick. (kitco.com, tradingeconomics.com) That matters because gold is priced in dollars. When the dollar weakens, bullion becomes cheaper for buyers using euros, yen or other currencies, which can support demand. (invezz.com) The rally also sits on a longer trend that predates this week’s moves in oil and currencies. The World Gold Council said central banks added 230 tonnes in the fourth quarter of 2025, bringing reported net buying for the full year to 863.3 tonnes. (gold.org) Analysts have not been reading the market one way all month. Earlier in April, Invezz cited State Street Investment Management as seeing a 50% chance gold trades in a $4,750-to-$5,500 range in 2026, but the same outlet also reported in late March that higher yields and a firmer dollar can quickly pressure bullion. (invezz.com, invezz.com) For now, gold is rising in a market that is trying to price two things at once: less immediate energy shock from Hormuz and continued demand for assets investors can sell quickly if the next headline turns risk-off again. (reuters.com, invezz.com)
