Gold prices recovered from a one-week low around $4,670, trading near $4,760 per ounce after the US extended its ceasefire with Iran. Lower oil prices from the development eased inflation concerns and weakened the dollar. Peru’s election adds uncertainty for key gold mining operations.
Gold rebounds after US-Iran ceasefire extension
Gold prices rose over 1% on April 22 following the US extension of ceasefire with Iran. Weaker oil prices reduced inflation fears, supporting gold as a non-yielding asset. The dollar retreated amid the reduced geopolitical tensions.
Peru election uncertainty hits mining sector
Investors in Peru’s gold mining industry face jitters as presidential vote count drags on with policy uncertainty. Leading candidates offer few plans to address illegal mining and deforestation. Peru’s status as a major gold producer amplifies the risks to supply.
Gold up 43% year-to-date
Gold has surged 43% since the start of 2026, outperforming broader markets amid global uncertainties. Monthly gains stand at nearly 8% as of April 22. The rally reflects ongoing demand for safe-haven assets.
