Gold Holds Near $4,800/oz, Eyes 4th Weekly Gain

Gold rose to $4,798.44 per ounce on April 17, up 0.21% on the day and on track for a fourth consecutive weekly advance. The metal continues to draw safe-haven demand even as US-Iran ceasefire hopes ease near-term inflation and rate fears.

A Year of Records

Gold is up 39.72% over the past 12 months, an extraordinary stretch that reflects both geopolitical risk and central bank accumulation. The all-time high of $5,589 per ounce was set on Jan. 28, 2026, before a partial pullback as risk assets stabilized.

Drivers of the Rally

The four-week winning streak has been powered by Iran war risk premiums, expectations of US rate cuts and persistent dollar weakness. Talks between Washington and Tehran have eased some volatility, but gold has held its bid as funds rotate toward longer-dated inflation hedges.

Bitcoin in Parallel

Bitcoin traded near $75,000 on the same day, drawing comparisons to gold as a macro hedge. While Bitcoin's 2026 trajectory has been more volatile, both assets have benefited from the same underlying narrative of monetary uncertainty and eroding faith in long-duration sovereign debt.