Asian Currencies Slide as Indian Rupee Hits Record Low Amid Iran Tensions 
Gold Prices Slip as Strong Dollar and Rising Oil Weigh on Market Sentiment 
Trump Says Iran Ceasefire ‘On Life Support’ as Oil Prices Surge Above $104 
US Inflation Expected to Rise Again in April as Fed Signals Higher Interest Rates 
Dollar Rises as Strait of Hormuz Crisis Pushes Oil Prices Higher 
Goldman Sachs Delays Fed Rate Cut Forecast to 2026 Amid Rising Inflation Concerns 
Trump Rejects Iran Proposal as Strait of Hormuz Crisis Pushes Oil Prices Higher 
Trump Administration Seeks Court Pause to Reinstate 10% Global Tariffs 
Asian Stocks Slip as Korea’s KOSPI Tumbles Amid Iran Conflict and Chip Sector Profit-Taking 
Indian Stock Market Drops as Iran Conflict Fuels Oil Price and Inflation Fears 
Rubio Discusses Iran Crisis and Strait of Hormuz Disruptions With UK and Australia 
Dollar Gains on Safe-Haven Demand as Iran Tensions and Inflation Data Loom 
ECB Signals Possible Interest Rate Move if Inflation Outlook Fails to Improve 
South Korea Central Bank Signals Inflation Concerns as Oil Prices Surge 
US Stock Futures Hold Steady Ahead of CPI Data and Iran Conflict Concerns 
Asian Currencies Slide as Iran Tensions Boost Dollar and Oil Prices 
China Inflation Jumps as Iran Conflict Drives Energy Costs Higher 
Gold prices climbed on Friday, positioning the precious metal for a weekly gain as investors retreated from riskier assets and sought refuge in safe haven investments like bullion and the U.S. dollar. The move came amid ongoing uncertainty surrounding U.S.-Iran peace negotiations and intensifying conflict in the Middle East.
Spot gold rose 2.6% to settle at $4,492.74 per ounce, while gold futures gained 2.5%, closing at $4,520.40 per ounce. For the week, spot gold was on pace for a 0.4% gain — a modest recovery following its steepest weekly decline in over four decades.
Despite the rebound, gold has struggled to fully reclaim its traditional safe haven status throughout the current Middle East crisis. A stronger U.S. dollar and persistent expectations of elevated interest rates — driven by inflationary pressure from rising oil prices — have continued to weigh on bullion's performance.
Joseph Cavatoni, senior market strategist at the World Gold Council, noted that the price recovery reflects how sensitive gold markets are to shifting macroeconomic signals. He emphasized that rate expectations and currency movements are currently exerting more immediate influence on gold than geopolitical risk alone. Nevertheless, Cavatoni maintained that gold's long-term fundamentals remain solid, supported by continued central bank demand, elevated global debt levels, and persistent economic uncertainty. He described recent price fluctuations as short-term recalibration rather than a structural breakdown in the broader gold rally.
Spot gold remains roughly 15% below its level at the start of the Iran conflict in late February and approximately 20% off the record highs reached in January.
Friday's session was further unsettled by geopolitical developments, including President Trump's extension of a deadline for Iran to reopen the Strait of Hormuz. Iranian officials confirmed that Israel struck several industrial and civilian energy sites, complicating diplomatic efforts and keeping investor sentiment fragile.
