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On this day — April 9, 2024
Tuesday — a normal trading day. Tuesday is also when the CFTC publishes Commitments of Traders data for the prior week, often producing intraday movement.
Day 100 of 366 · Q2 2024 · 27.3% through the year
April 2024 gold market: Records extend on Middle East tensions
BullishRecords extended despite a firm dollar and hot inflation.
Gold pushed past $2,300 in April as a direct Iran–Israel exchange briefly inflamed Middle East war fears and central banks kept accumulating. Even a hotter US inflation print and a stronger dollar only paused the advance.
What drove gold in April 2024
- Iran–Israel direct strikes
- persistent central-bank buying
- safe-haven demand
- strong momentum despite a firm dollar
Key events in April 2024
- Apr 12Gold tops $2,400 intraday on Middle East escalation
What happened next
Dips stayed shallow, and gold set another record near $2,450 in May.
For gold buyers
April showed gold's 2024 character: dips were shallow and brief, as official-sector buyers stepped in on every pullback.