Gold rises as US dollar weakens amid oil inflation fears
Gold prices ticked up on Thursday after hitting a one-month low, mainly because the US dollar lost some strength.
With the dollar down, gold became more appealing for people using other currencies.
Spot gold rose 0.6% to $4,566.73 per ounce, and US futures for June went up 0.4%.
Still, high oil prices are keeping inflation worries alive and hinting that interest rates might stay high.
Gold demand rises 2% early 2026
Global demand for gold climbed 2% in early 2026, mostly thanks to more bar and coin buying, plus central banks picking up their purchases by 3%, according to the World Gold Council.
This helped balance out a big drop in jewelry demand.
Meanwhile, silver, platinum, and palladium also saw price bumps as markets react to ongoing economic uncertainty and stubbornly high inflation.