Gold Price Today: Spot gold rises to its highest levels in nearly a month as the dollar weakens

TLDR

• Gold rose in spot transactions 0.4 percent to $4,808.42 per ounce, remaining near the highest level in a month.
• A weak US dollar makes gold more attractive to buyers abroad
• The United States and Iran agreed in principle to hold a second round of talks
• The fragile ceasefire agreement between the United States and Iran is scheduled to expire on April 21
• The price of oil has stabilized at less than $100 per barrel, but is still well above pre-war levels

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Gold prices rose on Thursday, supported by a weaker US dollar and cautious optimism about the ongoing ceasefire negotiations between the US and Iran.

Spot gold rose 0.4 percent to $4,808.42 per ounce. Gold futures added 0.1% to $4,828.71 per ounce as of early Thursday morning ET.

Prices of other precious metals also rose. Silver in spot transactions rose 0.6 percent to $79.41 per ounce, while platinum in spot transactions increased 1.2 percent to $2,138.32 per ounce.

The gains came as well gold It held near the highest level in nearly a month reached on Wednesday. Hope for a continued de-escalation in the Iranian conflict has helped ease some inflation fears and raise broader risk appetite.

Ceasefire talks in Iran

The United States and Iran have agreed in principle to hold a new round of talks, according to the Wall Street Journal. An initial round of negotiations took place last weekend in Pakistan, but did not result in an immediate agreement.

Officials familiar with the matter told the newspaper that neither party has set a date or location for the next meeting. The current ceasefire between the two countries is scheduled to end on April 21.

President Donald Trump also said Thursday that talks between Israel and Lebanon are expected. Israel confirmed the talks, although the Associated Press reported that Lebanon said it had not been informed.

BREAKING: President Trump says he is “trying to get a little breathing room between Israel and Lebanon” and “it will happen tomorrow.” pic.twitter.com/mEMhnXMwM1

– Al Qubaisi Letter (@KobeissiLetter) April 16, 2026

Tensions in the region have not completely subsided. Iran’s supreme military commander warned the United States against stopping the naval blockade of Iranian ports. US Central Command said that no ships or oil tankers linked to Iran were able to breach the blockade.

Oil and interest rate forecasts

Oil prices Prices stabilized at less than $100 per barrel, but remained much higher than before the conflict began. The price of crude oil had risen to about $120 a barrel when the war broke out in late February, raising concerns about inflation around the world.

These concerns have led to increasing bets that central banks, including the Federal Reserve, may raise interest rates. Higher rates tend to reduce the attractiveness of gold, which does not yield any return.

But as the peace talks progressed, interest rate hike bets declined. The spot gold price rose by 0.9% last week.

The US dollar also weakened after spending most of March as a safe haven currency. Investors viewed the United States as insulated from oil supply disruptions in the Strait of Hormuz, given its status as a major energy exporter.

A weak dollar tends to make gold cheaper for buyers using other currencies, which can support demand. A date for the next round of US-Iranian talks has not yet been set, with the April 21 ceasefire deadline looming.