Gold prices barely moved as oil prices weakened amid uncertainty over\nthe resolution of the conflict involving the United States and Israel\nagainst Iran. A softer dollar and falling bond yields also supported\nbullion.<\/p>\n
Refinitiv data showed that gold traded on Thursday, 21 May 2026,\nclosing at US$4,544 per troy ounce, up a slim 0.01%. The rise extended\nits positive streak after a 1.4% gain on Wednesday.<\/p>\n
Gold prices slipped slightly on Friday. By 06:45 WIB on 22 May 2026,\ngold was at US$4,532.89 per troy ounce, down 0.24%.<\/p>\n
Oil prices moved volatile and down as prospects for resolving the\nconflict with Iran remained unclear. US President Donald Trump said\nearlier this week that he cancelled air strikes previously planned\nagainst Iran to allow more time for diplomacy, at the request of Gulf\nArab allies. However, Iran and the US have seen only limited progress\ntoward a deal since they agreed to a fragile ceasefire last month.<\/p>\n
West Texas Intermediate (WTI) futures fell by almost 2% to close at\nUS$96.35 per barrel. Brent crude also eased by more than 2% to US$102.58\nper barrel.<\/p>\n
Treasury yields on the 10-year and 30-year notes also fell, with the\n10-year yielding 4.564% and the 30-year yield down more than 2 basis\npoints to 5.09%.<\/p>\n
Peter Grant, Vice President and Senior Metals Strategist at Zaner\nMetals, said the declines in oil prices and the dollar\u2019s retreat from\nsix-week highs should support gold in the near term. However, the market\nremains cautious given that previous deals have frequently fallen\nthrough.<\/p>\n
\u201cLower oil prices and the dollar retreat from six-week highs should\nbe positive for gold in the near term, and gold has begun to firm.\nStill, I expect trading to remain cautious at first. We have seen deals\nfail several times,\u201d Grant said.<\/p>\n
The precious metal had fallen more than 14% since the war began in\nlate February. The conflict disrupted maritime traffic through the\nStrait of Hormuz, fueling energy price increases and raising inflation\nconcerns.<\/p>\n
\u201cAn oil price rise that pushes inflation higher puts central banks\nunder pressure to keep rates high or raise them again. That environment\nremains negative for gold in the near term,\u201d UBS analyst Giovanni\nStaunovo noted. Although gold is known as an inflation hedge, it\ntypically faces pressure when rates are high.<\/p>\n
Market participants now see a 58% chance that the Federal Reserve\nwill raise rates by at least 25 basis points this year, up from 48% a\nday earlier, according to the CME FedWatch Tool.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/gold-prices-go-nowhere-traders-fed-up-with-trumps-promises-1779542336", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }