AGE Daily Gold Update

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

4/14/2026: Gold gains on falling oil, dollar

Source: Bill Musgrave, American Gold Exchange

Austin — New York spot gold gained 1.7% to close at $4,825 as the prospect of continued peace talks between Iran and the US put downward pressure on oil and the dollar while reviving rate-cut expectations. Silver surged 5.1% to $79.39 an ounce.

President Trump announced another round of peace talks could take place in Pakistan "over the next two days," signaling openness on both sides to end the war and restore shipping through the Strait of Hormuz.

US benchmark WTI crude tumbled 7.2% to under $92 per barrel on the ceasefire news, lowering inflation expectations and raising hopes that the Fed may reduce interest rates later this year. Bond traders are now pricing in a 33% chance of a single quarter-point cut, up from none just a few weeks ago.

Benchmark 10-year Treasury yields dropped under 4.3% and the dollar lost 0.2% on the shifting rate view.

Whereas gold typically trades in sympathy with oil as a hedge against energy-related inflation, the US war on Iran has upended that correlation by introducing energy shocks that could raise global inflation, forcing central banks to increase interest rates. Falling oil prices potentially lower the inflationary risk and the likelihood of higher interest rates.

Falling rates lift gold by decreasing the opportunity costs for holding it and by pressuring the dollar, making it cheaper in other currencies.

Against this backdrop, US wholesale inflation came in lower than expected in March, with the PPI for final demand rising 0.5%, high but well under the 1.1% projected by most economists. Still, gasoline and diesel prices hit seasonal all-time highs.

Platinum and palladium added 1.1% and 0.6%, respectively.

At the New York spot close: gold gained $82.60 to $4,825; silver surged $3.87 to $79.39; platinum picked p $22.80 to $2,084.60; and palladium advanced (.60 to $1,576.40 an ounce.