Gold Falls to Mid-March Lows as Inflation Concerns Return to Focus
May 29, 2026Good evening ladies and gentlemen, and welcome back to The Australian Gold Mid-Weekly Review.
It's been another weaker week across the precious metals complex, with gold now trading under US$4,400 per ounce, marking its lowest level since mid-March. The move lower comes as investors continue to assess the inflationary implications of briefly escalated tensions between the United States and Iran, with markets once again focusing on the potential impact of higher energy prices on the future path of interest rates.
Silver has also come under pressure, currently trading at around US$73 per ounce. As we often see during periods of heightened volatility, silver has continued to move sharply alongside gold, with sentiment across the broader precious metals space weakening as investors reassess short-term inflation, interest rate and US dollar expectations.
Meanwhile, oil is currently trading at approximately US$91 per barrel, with markets remaining sensitive to developments in the Middle East. While oil has eased from the more extreme levels seen earlier in the conflict, the broader concern remains that any renewed disruption or escalation could place further upward pressure on inflation globally.
Turning to equities, the ASX gold sector has also reflected this weaker sentiment.
The ASX All Ordinaries Gold Index is currently sitting at approximately 16,900 points, following the pullback in gold prices.
And that's it for this week's mid-week update!
Thank you for tuning in, and as always, we'll continue to bring you timely insights every Thursday to help guide your investment decisions. We look forward to seeing you again this Sunday for the next episode of The Australian Gold Weekly Review!
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Brian contributes his insights on precious metals and mining stocks via free and paid newsletters with independent publisher, Fat Tail Investment Research. You can learn about his work by visiting www.daily.fattail.com.au. Fat Tail Investment Research is part of The Agora, a renowned international financial solutions publisher.
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