Global Gold Prices Rise, Silver Surges More than 2 Percent

KOMPAS.com – Global gold prices strengthened during trading on Thursday (16/4/2026), driven by diplomatic developments between the United States (US) and Iran that heightened hopes for the easing of geopolitical conflicts. According to Trading Economics data, gold prices rose 0.9 percent to $4,833.04 per ounce. Although it strengthened on a daily basis, gold’s performance was still recorded as down 3.47 percent on a monthly basis, but it remained up 45.31 percent on an annual basis. This strengthening of gold prices occurred alongside market optimism regarding the prospects of extending the ceasefire between the US and Iran, opening up space for further negotiations. Copper also strengthened by 0.57 percent to $6.1064, reflecting expectations of solid ongoing industrial demand. Meanwhile, platinum was recorded as rising 1.22 percent to $2,156.50 per ounce. On the other hand, steel prices slightly weakened by 0.03 percent to $3,093.00. Easing inflation, interest rates still a restraint Citing Bloomberg, the easing of energy commodity prices in recent times has also pressured global inflation expectations. This condition reduces pressure on central banks to maintain high interest rates for longer. However, interest rates that remain relatively high continue to act as a restraining factor for gold, given that the precious metal does not provide a yield. This view is reinforced by statements from St. Louis Fed President Alberto Musalem and Cleveland Fed President Beth Hammack, who see interest rates being “held for a sufficiently long time”. The rise in gold prices was also triggered by news that the US and Iran are considering extending the ceasefire for two weeks to open up space for further negotiations. The two countries are said to have reached a “principle agreement” to continue the diplomatic path after the initial round of talks in Pakistan last weekend did not produce concrete decisions, as reported by the Associated Press. US President Donald Trump also eased concerns about conflict escalation. In an interview with Fox Business, he described the war that has been ongoing for nearly seven weeks as “approaching its end”. Nevertheless, disruptions in strategic shipping routes are still occurring, so risks to the global market have not fully dissipated.