Market Information on Gold - Daily Update April 21, 2026

Underlying Trends

Geopolitical Risk: Markets are cautious as the 10-day US-Iran ceasefire nears its April 22 expiration. Uncertainty regarding a truce extension is supporting the US Dollar, which acts as a headwind for gold.
Hormuz Volatility: Recent maritime incidents in the Strait of Hormuz have triggered energy supply concerns. While inflationary, this has led to a "higher-for-longer" rate narrative, weighing on non-yielding assets.
Central Bank Demand: Despite the daily dip, structural demand remains robust. Global central banks are on track to purchase over 750 tonnes in 2026, providing a strong fundamental floor near $4,750.
Correction Phase: After hitting an all-time high of $5,608 in January, gold is currently in a healthy consolidation phase. Analysts view the $4,800 level as a key psychological support zone.