AGE Daily Gold Update

AGE Daily Gold Update presents a recap on today's action in the precious metals markets. View archives.

4/9/2026: Gold gains for fourth session

Source: Bill Musgrave, American Gold Exchange

Austin — New York spot gold gained for a fourth session, adding another 0.9% to close above $4,792 as the dollar fell and oil rose on concerns about the fragility of the US-Iran ceasefire. Silver climbed 1.4% to finish at $76.27 an ounce.

In violation of one of Iran's demands, Israel launched its most intensive strikes on Lebanon since the war began, prompting worries that the ceasefire will not hold. Re-opening the Strait of Hormuz, a central US demand, has not occurred.

US benchmark WTI crude jumped 3.8% to $98 per barrel on the continuing hostilities. Gold often trades in sympathy with oil as a hedge against energy-related inflation.

The PCE index showed US inflation rose 0.4% in February, the biggest jump in a year, to keep the 12-momnth rate at 2.8%. So-called core inflation, less food and energy, rose 0.4% for a 12-month rate of 3%, down from 3.1% in January. These readings were before the US war on Iran.

Yesterday's release of the minutes from the Fed's march meeting showed a divided committee. A group of members advocated higher interest rates this year to combat rising inflation, while "many" believed that up to two quarter-point cuts are still possible if the war subsides quickly.

The dollar fell 0.3% against major rivals, lifting gold and other commodities by making them cheaper overseas.

Platinum rose 2.2% while palladium fell 1.6%.

At the New York spot closes: gold gained $42.70 to $4,792.20; silver rose $1.05 to $76.27; platinum picked up $46 to $2,096.60; and palladium shed $24.90 to $1,562.15 an ounce.