{"id":126430,"date":"2026-04-29T15:07:44","date_gmt":"2026-04-29T11:07:44","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=126430"},"modified":"2026-04-29T15:08:22","modified_gmt":"2026-04-29T11:08:22","slug":"gold-stuck-in-mud-near-one-month-low-as-iran-blockade-and-fed-caution-crush-safe-haven-appeal","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/gold-stuck-in-mud-near-one-month-low-as-iran-blockade-and-fed-caution-crush-safe-haven-appeal\/04\/29\/market-updates\/","title":{"rendered":"Gold Stuck in Mud Near One-Month Low as Iran Blockade and Fed Caution Crush Safe-Haven Appeal"},"content":{"rendered":"\n<h1 class=\"wp-block-heading\"><\/h1>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Key Takeaways<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Bullion under pressure:<\/strong> Spot gold slipped 0.1% to $4,593.04 per ounce, while gold futures eased 0.1% to $4,606.31 \u2014 both near one-month lows.<\/li>\n\n\n\n<li><strong>Dollar steals the show:<\/strong> Safe-haven buyers have flocked to the greenback rather than gold amid the Iran war uncertainty.<\/li>\n\n\n\n<li><strong>Mixed metals picture:<\/strong> Spot silver rose 0.7% to $73.6135\/oz, while spot platinum fell 0.3% to $1,937.75\/oz \u2014 both still nursing recent steep losses.<\/li>\n\n\n\n<li><strong>Blockade looms large:<\/strong> Trump has reportedly directed aides to prepare for a prolonged naval blockade of Iran to choke off oil exports.<\/li>\n\n\n\n<li><strong>Iran proposal rejected:<\/strong> The president rebuffed Tehran&#8217;s offer to reopen Hormuz, given its call to postpone nuclear talks.<\/li>\n\n\n\n<li><strong>Inflation-rate dilemma:<\/strong> Fears that oil-driven inflation will force hawkish central bank moves continue to dampen gold&#8217;s appeal.<\/li>\n\n\n\n<li><strong>Fed in focus:<\/strong> The central bank is widely expected to hold rates Wednesday, with growing bets it will stay on hold for the remainder of 2026.<\/li>\n\n\n\n<li><strong>Big week for central banks:<\/strong> Decisions from the ECB and Bank of England also loom.<\/li>\n<\/ul>\n\n\n\n<p>Gold prices steadied near a one-month low on Wednesday as bullion demand remained largely suppressed by lingering uncertainty surrounding the Iran war, while anticipation of the Federal Reserve&#8217;s meeting also weighed on sentiment.<\/p>\n\n\n\n<p>The yellow metal has logged steep losses this week as safe-haven flows continued to favor the U.S. dollar, while elevated oil prices \u2014 fueled by expectations of a prolonged U.S.-Iran standoff \u2014 also rattled markets.<\/p>\n\n\n\n<p>Spot gold fell 0.1% to $4,593.04 per ounce by 02:09 ET (06:09 GMT), while gold futures slipped 0.1% to $4,606.31 per ounce.<\/p>\n\n\n\n<p>Other precious metals traded in mixed fashion but were also nursing notable losses from recent sessions. Spot silver rose 0.7% to $73.6135 per ounce, while spot platinum fell 0.3% to $1,937.75 per ounce.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Trump Bracing for Extended Iran Blockade \u2014 WSJ<\/h2>\n\n\n\n<p>U.S. President Donald Trump has instructed aides to prepare for a prolonged naval blockade against Iran, the Wall Street Journal reported on Tuesday evening.<\/p>\n\n\n\n<p>The move is aimed at ratcheting up pressure on Iran&#8217;s economy by severing its ability to export oil, in a further effort to push Tehran toward a deal.<\/p>\n\n\n\n<p>Reports earlier this week revealed Trump was largely dissatisfied with Iran&#8217;s proposal to reopen the Strait of Hormuz and end the war \u2014 chiefly because the offer called for postponing discussions on Iran&#8217;s nuclear activities.<\/p>\n\n\n\n<p>A prolonged naval blockade is likely to provoke further hostility from Iran, which could retaliate by keeping the Strait of Hormuz shuttered for the foreseeable future. Such a scenario stands to deepen the disruption of oil flows across the Middle East.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Inflation Fears Continue to Weigh on Gold<\/h2>\n\n\n\n<p>Concerns over oil-driven inflation \u2014 which could in turn prompt more hawkish messaging from global central banks \u2014 have been a significant drag on gold prices since late February. Markets have worried that higher interest rates will raise the opportunity cost of holding non-yielding assets such as gold, largely overshadowing bullion&#8217;s traditional safe-haven appeal.<\/p>\n\n\n\n<p>&#8220;For gold to regain stronger traction, markets may need to see either a pullback in oil prices or signs that geopolitical tensions are easing enough to revive dovish Fed pricing,&#8221; OCBC analysts noted in a research piece.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Fed Meeting in the Spotlight<\/h2>\n\n\n\n<p>Investor attention is also locked on the conclusion of the Fed&#8217;s two-day meeting later on Wednesday, with the central bank widely expected to leave interest rates unchanged.<\/p>\n\n\n\n<p>Wednesday&#8217;s decision arrives amid mounting bets that the Fed will keep rates on hold for the rest of 2026, particularly in light of intensifying inflation pressures stemming from the Iran war.<\/p>\n\n\n\n<p>Beyond the Fed, interest rate decisions from the European Central Bank and the Bank of England are also on tap this week.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Bullion under pressure: Spot gold slipped 0.1% to $4,593.04 per ounce, while gold futures eased 0.1% to $4,606.31 \u2014 both near one-month lows. Dollar steals the show: Safe-haven buyers have flocked to the greenback rather than gold amid the Iran war uncertainty. Mixed metals picture: Spot silver rose 0.7% to $73.6135\/oz, while spot &hellip;<\/p>\n","protected":false},"author":9,"featured_media":94364,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,6827,49,37,36],"tags":[],"class_list":["post-126430","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-daily-economic-reports","category-economic-reports","category-forex-markets","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/126430","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=126430"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/126430\/revisions"}],"predecessor-version":[{"id":126431,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/126430\/revisions\/126431"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/94364"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=126430"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=126430"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=126430"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}