Gold Prices Steady

Global Gold Prices Hold Near $4,528 on Tuesday Morning as Markets Watch Middle East Risks

Global gold prices traded relatively steady on Tuesday morning (May 5, 2026), as investors closely monitored the economic impact of escalating tensions in the Middle East and the stalled peace talks between the United States and Iran.

According to Reuters, spot gold edged up 0.2% to $4,528.99 per ounce at 00:59 GMT. The precious metal had previously dropped more than 2%, hitting its lowest level since March 31 during the prior trading session.

Meanwhile, U.S. gold futures for June delivery rose 0.1% to $4,538.20 per ounce, signaling cautious optimism among traders.

Geopolitical tensions intensified after the United States and Iran launched fresh attacks in the Gulf region, both aiming to assert control over the strategic Strait of Hormuz. The renewed conflict has shaken an already fragile ceasefire.

The U.S. military reported destroying six Iranian small vessels and intercepting cruise missiles and drones, as Washington continues efforts to secure and reopen key shipping lanes in the Strait of Hormuz.

On the energy front, U.S. crude oil prices fell more than 1%, as markets assessed the limited impact of Iran’s attacks on vessels in the المنطقة. Sentiment was also supported by reports that a U.S.-flagged ship operated by Maersk successfully crossed the strait under U.S. military escort.

From a monetary policy perspective, New York Federal Reserve President John Williams stated that current policy remains sufficiently strong to handle economic uncertainty stemming from the conflict. He also signaled the possibility of interest rate cuts once inflationary pressures ease.

However, U.S. President Donald Trump reiterated that interest rates are still too high, urging for more accommodative monetary policy.

Meanwhile, holdings in SPDR Gold Trust—the world’s largest gold-backed ETF—remained unchanged at 1,040.66 metric tons, reflecting a neutral stance among institutional investors.

Other precious metals saw modest gains, with silver rising 0.1% to $72.76 per ounce, platinum up 0.5% to $1,954.80, and palladium climbing 0.8% to $1,491.84 per ounce.

Overall, gold price movements currently reflect a “wait-and-see” approach among market participants amid ongoing geopolitical uncertainty and evolving global monetary policy expectations. 

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Antam Gold Drops

 

Antam Gold Prices Slip Again, Start of Week at Rp2.795.000 per Gram

Antam gold prices declined slightly at the start of the week, with bullion from PT Aneka Tambang Tbk (Antam) recorded lower on Monday, May 4, 2026. According to official data from Logam Mulia, the price of Antam gold dropped by Rp1,000 to Rp2.795.000 per gram.

Despite the modest dip, current gold prices remain well below the all-time high of Rp3.168.000 per gram reached on January 29, 2026. This indicates that the precious metal is still undergoing a consolidation phase after its previous rally.

The buyback price also experienced a similar correction, decreasing by Rp1,000 to Rp2.585.000 per gram from the previous Rp2.586.000. This reflects a consistent downward adjustment across both selling and repurchase values.

Price declines were seen across multiple denominations. The 0.5-gram size fell to Rp1.447.500 from Rp1.448.000. Meanwhile, the 2-gram bar dropped to Rp5.530.000 from Rp5.532.000, and the 5-gram size slipped to Rp13.750.000 from Rp13.755.000.

For investors looking at larger sizes, Antam gold is also available in 10-gram and 25-gram bars, priced at Rp27.445.000 and Rp68.487.000, respectively.

Latest Antam Gold Price List – May 4, 2026

• 0.5 gram: Rp1.447.500
• 1 gram: Rp2.795.000
• 2 gram: Rp5.530.000
• 5 gram: Rp13.750.000
• 10 gram: Rp27.445.000
• 25 gram: Rp68.487.000
• 50 gram: Rp136.895.000
• 100 gram: Rp273.712.000
• 250 gram: Rp684.015.000
• 500 gram: Rp1.367.820.000
• 1,000 gram: Rp2.735.600.000

This latest update highlights ongoing fluctuations in gold prices, making it essential for investors to monitor market trends closely before making decisions.

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Gold Below $4600

 

Gold Price Falls Below $4,600 After Thursday Rally Amid Strong USD and Fed Outlook

Gold prices slipped back below the $4,600 level after a brief rally on Thursday, facing renewed bearish pressure as the US Dollar (USD) remains resilient. Ongoing uncertainty surrounding US–Iran tensions, combined with speculation over Japan’s possible forex intervention, has weighed on the XAU/USD pair.

During the previous session, gold managed to break above $4,600 and the 100-hour Simple Moving Average (SMA), triggering short-covering activity in intraday trading. However, the upward move stalled near $4,650, aligning with the 38.2% Fibonacci retracement level from the April swing high decline. Technical indicators show mixed signals: the Relative Strength Index (RSI) stands at 58.33, indicating moderate bullish momentum without entering overbought territory, while the Moving Average Convergence Divergence (MACD) remains slightly negative. This suggests that bullish attempts are still tentative despite prices holding above short-term trend levels.

A sustained breakout above the 38.2% Fibonacci level at $4,651.19 is needed to confirm further upside potential. If bullish momentum continues, the next resistance level lies at the 50% retracement mark near $4,696.20. On the downside, immediate support is seen at the 100-hour SMA around $4,623.78. A break below this level could expose the 23.6% Fibonacci retracement at $4,595.49, with a deeper decline potentially targeting the monthly low near $4,505.46.

Fundamental Outlook: Fed Policy and Geopolitics Weigh on Gold

Gold remains under pressure as the Federal Reserve maintains a hawkish stance, supporting the US Dollar and limiting upside for the non-yielding metal. The precious metal is currently on track to post losses for a second consecutive week.

Geopolitical tensions also continue to influence market sentiment. US President Donald Trump rejected Iran’s proposal to reopen the Strait of Hormuz and lift the blockade, instead maintaining a firm stance on nuclear negotiations. Reports suggesting potential new US military action against Iran have heightened fears of further escalation, reinforcing the safe-haven appeal of the USD while capping gold’s gains.

Meanwhile, the Federal Reserve kept its benchmark interest rate unchanged at 3.50%–3.75% on Wednesday. Notably, the decision saw the highest level of dissent since 1992, with three policymakers opposing the current policy stance. Strong US economic data released Thursday further supports expectations that rates may remain elevated for longer.

According to the US Bureau of Economic Analysis, the Personal Consumption Expenditures (PCE) Price Index rose 0.7% month-over-month in March, with the annual rate climbing to 3.5% from 2.8% in February. Core PCE, which excludes food and energy, increased 3.2% year-over-year, up from 3.0% previously. Additionally, preliminary GDP data showed the US economy expanded at an annualized rate of 2.0% in Q1 2026, a sharp improvement from the revised 0.5% growth in Q4 2025.

Despite this, market expectations for at least one 25 basis point rate cut by the Fed in 2026 have risen to over 15%, up from just 1.3% a day earlier. This shift is preventing aggressive USD buying and helping limit further downside in gold prices.

Looking ahead, traders are closely watching upcoming US economic data releases, starting with the ISM Manufacturing PMI due Friday. At the same time, developments in the Middle East will remain a key driver of USD movement and overall gold market direction.

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