<\/p>\n
Gold rose as signs of buying interest emerged in the wake of strong purchases by China\u2019s central bank, even as fresh clashes in the Middle East threatened to fracture a fragile ceasefire.<\/p>\n
Bullion traded near $4 720 an ounce, after ending the previous session marginally lower. The US struck military targets in Iran after the country fired on three navy destroyers sailing in the strait.<\/p>\n<\/p>\n
ADVERTISEMENT<\/p>\n
CONTINUE READING BELOW<\/p>\n
The clashes heightened tensions as the US tries to exit a war now in its third month, and while it is waiting for Iran to respond to its proposal to reopen the Strait of Hormuz, a vital waterway for energy flows.<\/p>\n
There are signs that central bank demand, a major contributor to gold\u2019s multiyear rally, may continue. The People\u2019s Bank of China \u2014 among the biggest official sector buyers of the precious metal \u2014 bought 8 tons in April, data released Thursday show. That put last month\u2019s purchases at the highest since 2024.<\/p>\n
PBOC\u2019s extension of a buying streak \u201ccan be encouraging for Asian buyers,\u201d said Ahmad Assiri, an analyst at Pepperstone Group. \u201cWhat we see for now is early positioning for the potential rally\u201d to follow once the worst of the Middle East conflict is over, he said.<\/p>\n
Gold has fallen around 11% since the conflict erupted, as the near-closing of Hormuz and resulting energy price shock fanned concerns about rising inflation that would keep interest rates higher for longer. Higher rates and a stronger US currency are negative for bullion as it pays no interest and is priced in the greenback.<\/p>\n
ADVERTISEMENT:<\/p>\n
CONTINUE READING BELOW<\/p>\n
Traders will be tracking the change in US non-form payrolls due for release later Friday for clues on the trajectory of rates. Some Federal Reserve officials have played down the prospect on an eventual return to monetary easing, as the statement after last week\u2019s monetary policy meeting suggested, given the war is clouding the economic outlook and creating uncertainties.<\/p>\n
Spot gold rose 0.8% to $4 721.05 an ounce as of 11:28 a.m. in Singapore, and was up 2.3% for the week. Silver climbed 1.8% to $79.84, while platinum and palladium advanced. The Bloomberg Dollar Spot Index, a gauge of the US currency, added 0.1%, but was down 0.2% this week.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Gold #rises #buying #interest #counters #concern #Hormuz #clash<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold rose as signs of buying interest emerged in the wake of strong purchases by…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[348,6480,5109,11421,158,504,125,2059],"_links":{"self":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts\/5830"}],"collection":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5830"}],"version-history":[{"count":0,"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts\/5830\/revisions"}],"wp:attachment":[{"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5830"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}