IAU closed at $88.71 as a hotter-than-expected April CPI report fueled fears of Federal Reserve rate hikes and broader market risk aversion. The decline tracks precious metals trends despite indirect support from rising energy prices and geopolitical instability.
- The April CPI reached +3.8% YoY, triggering concerns over persistent inflation and potential monetary tightening.
- Escalating U.S.-Iran tensions drove Brent crude above $107, though the resulting support for gold was offset by a general sell-off in equities.
- IAU was trading at $88.75 in after-hours sessions, with the market closely monitoring precious metals as silver tests resistance at $88.25.