Gold remains rangebound: No Hormuz plan, no rally – Warsh a risk

Published: Apr 24, 2026 09:17

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The gold price edged lower at the start of trading on Tuesday, slipping below the $4,800 mark. Despite the recent decline in oil prices, the precious metal’s upside potential remains limited by persistent inflationary pressure, which continues to support the US dollar and keep US Treasury yields elevated.

21. April 2026

This dynamic is a headwind for non-yielding gold and is likely to persist until there is a clear, time-bound plan to normalize shipping through the Strait of Hormuz. Against this backdrop, gold prices are unlikely to deviate materially from the range of roughly $4,500 to $4,850 seen in recent weeks until credible prospects emerge for peace between the US and Iran.

In the meantime, traders will be watching today’s Senate confirmation hearing for Kevin Warsh closely. Any hawkish signals from the Fed chair-designate could strengthen the dollar and push US Treasury yields higher, further increasing downward pressure on the precious metal.

Ricardo Evangelista – Senior Analyst, ActivTrades

Source：https://goldinvest.de/en/gold-remains-rangebound-no-hormuz-plan-no-rally-warsh-a-risk/

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