Daily market update
Gold notches fourth consecutive weekly gain near $4,830 as dollar softens
Gold settled the week close to $4,831 per ounce, extending a run of four straight weekly gains as the US dollar index slipped to 97.70 and markets positioned for the Fed to hold again at the April 29-30 FOMC meeting. Safe-haven demand held firm even as an Israel-Lebanon ceasefire announcement pushed oil more than 10% lower, with central bank buying and Asian ETF inflows continuing to provide structural support.
Key market drivers today
US DollarSoft
Real RatesStable
Central BanksNet buyers
Geopolitical RiskElevated
What to watch
- Spot gold ended the week around $4,831/oz on April 17, with intraday levels pushing to $4,878, marking a weekly gain of roughly 0.8% to 1.5% and a fourth consecutive weekly advance.
- The US dollar index fell to 97.70 on April 17 and the US-Germany 10-year yield spread sat at 159bp, a combination that has continued to ease pressure on dollar-priced bullion.
- CME FedWatch pricing implies a 99.5% probability the Fed keeps rates at 3.50-3.75% at the April 29-30 meeting, with policymakers still signalling one cut later in 2026 and another in 2027.
- Central banks bought a net 27 tonnes in February according to the World Gold Council, in line with the 2025 monthly average, though the year-to-date pace of 31 tonnes lags the 50 tonnes seen in the same period of 2025.
- Asian gold ETFs added US$2bn in March for a seventh consecutive month of inflows, while North American funds recorded their largest monthly outflow on record at roughly US$13bn, underscoring a sharp East-West split in investor behaviour.
Live gold prices
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