Gold prices rose by as much as 1.9%, stabilizing at $4,500.

MaticHoleFiller · 2026-04-02T19:36:27+00:00

Gold prices continue to rise amid Middle East conflict uncertainties, with spot gold reaching a high of $4,580.64. Market expectations for rate cuts have increased, easing concerns over monetary policy tightening caused by rising oil prices and providing support for gold prices.

MaticHoleFiller

2026-04-02 19:36:27

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Gold prices rose for a second consecutive day on Monday, supported by bargain-buying as the market waited for clear signals on how long the Middle East conflict would last.

In late trading in New York, spot gold rose 0.22% to $4,503.88 per ounce. At 08:13 Beijing time, it fell to 4,420.14 to set a new intraday low, and then continued higher, reaching a new intraday high at 19:51 of $4,580.64.

COMEX gold futures rose 0.17% to $4,531.90 per ounce.

Gold prices at one point gained 1.9%, rising above $4,500 per ounce, before giving back some of the increase. The move highlighted resilience as oil prices rose.

Traders also began to rebuild their bets on rate cuts, because Federal Reserve Chair Jerome Powell said that long-term inflation expectations appear to be under control. This statement eased concerns that the rise in oil prices could lead to tighter monetary policy, and higher interest rates are unfavorable for gold prices.

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