According to mining veteran Pierre Lassonde, co-founder of Franco-Nevada and former president of Newmont Mining, the global financial system is entering a structural shift that could push gold toward $17,250 per ounce within the next few years.
The Indian rupee fell to a record low on Monday as elevated energy prices, driven by ongoing tensions in the Middle East, continued to pressure global financial markets. The rupee declined nearly 0.3% to 96.2275 per U.S. dollar, breaking its previous all-time low of 96.1350 per dollar.
Malaysia’s economy grew by 5.4% in the first quarter of 2026, supported by domestic demand, E&E exports, investment activity, and steady credit growth, while inflation and geopolitical risks remained key factors to watch.
Jerome Powell concludes his term as Chair of the Federal Reserve on May 15, 2026, marking the end of one of the most turbulent periods in the history of the U.S. central bank.
At the time of writing, spot gold was trading near $4,650.30 per ounce, down 0.80%, while spot silver fell sharply by 4.58% to around $83.36 per ounce.
The U.S. dollar continued to strengthen on Friday and was on track for its biggest weekly gain in more than two months
Market attention was also focused on the meeting between U.S. President Donald Trump and Chinese President Xi Jinping in Beijing, where both sides were expected to discuss trade, economic issues, and sensitive geopolitical matters.
According to data from the U.S. Department of Labor, the Producer Price Index for final demand increased 1.4% in April, marking its largest monthly gain since March 2022.
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According to the U.S. Bureau of Labor Statistics, the Consumer Price Index rose 3.8% year over year in April, up from 3.3% in March. The latest data shows a clearer picture of how geopolitical tensions in the Middle East are feeding into everyday costs for American households.
Spot gold was trading around $4,714.40 per ounce, down 0.42%. Meanwhile, spot silver rose 0.54% to around $86.440 per ounce.