Answer
Apr 29, 2026 - 06:22 AM
As of today, April 29, 2026, at 9 AM ET, the live spot price of gold is $4,562.60 per ounce, marking a 0.67% decline from yesterday's price of $4,593.40. This translates to a price of $146.69 per gram and $146,691.03 per kilo. The primary catalyst for today's drop is a combination of market caution ahead of the Federal Reserve's April FOMC interest rate decision and a massive spike in energy-driven inflation. Because stalled U.S.-Iran negotiations have choked off roughly 20% of global oil supplies via the Strait of Hormuz, the market anticipates that the Fed may be forced to maintain a "higher for longer" interest rate environment to combat rising costs. Elevated interest rates raise the opportunity cost of holding non-yielding gold, creating short-term overhead resistance. Despite this technical consolidation from its all-time highs above $5,500 set in January, long-term support remains fundamentally strong due to record-breaking World Gold Council physical investment and central bank demand.
