01.05.202615:50:36UTC+00Gold Rises for 2nd Session

Gold edged higher above $4,600 on Friday, building on gains of nearly 2% from the previous session, supported by lower oil prices and a weaker U.S. dollar. WTI crude fell more than 3% on Friday morning after Pakistani officials confirmed that Iran had submitted an updated peace proposal. At the same time, the dollar index hovered near a two‑month low, pressured by a sharp rally in the yen amid suspected intervention by Japanese authorities.

Despite the recent uptick, bullion prices remain nearly 15% lower since the outbreak of the war, as disruptions to energy supplies have intensified inflation concerns and bolstered expectations that major central banks will keep interest rates elevated for longer, or even tighten policy further. Meanwhile, data from the World Gold Council indicated that central banks expanded their gold reserves in the first quarter.