Gold futures (GCG26) closed lower at 4,688.3 (-0.39%) as hawkish signals from Fed Chair Kevin Warsh and persistent inflation offset safe-haven demand driven by Middle East instability.
- Geopolitical tensions, including the closure of the Strait of Hormuz and Brent crude at $108/bbl, continue to support gold's safe-haven status despite recent price pressure.
- New Fed Chair Kevin Warsh has signaled a hawkish policy shift, reducing the likelihood of rate cuts while persistent 3.8% CPI inflation further curbs the metal's upside.
- Analysts project a May 2026 average price of $4,740, with an expected trading range between $4,380 and $5,100.