Gold futures rise amid easing Middle East tensions, analysts say. "President Trump's announcement to temporarily pause a U.S.-led plan to provide safe passage for vessels through the Strait of Hormuz," has eased these tensions, CBA's Vivek Dhar says

2026-05-06

Gold futures rise amid easing Middle East tensions, analysts say. "President Trump's announcement to temporarily pause a U.S.-led plan to provide safe passage for vessels through the Strait of Hormuz," has eased these tensions, CBA's Vivek Dhar says in a research report. Gold futures have mostly tracked inversely to the direction of Middle East tensions since prices reached an intraday peak of $5,422 an ounce on March 2, the analyst says. An "upward shift in gold will likely be driven by any cease-fire hopes in the Middle East, market pricing of rate cuts as high energy prices weigh on global growth and Fed independence concerns," Dhar adds.