Gold Closes at $4792 (-0.52%), Silver at $76.64 (+0.26%) After Inflation Data

Precious Metals Closing Levels

At the close of the session, the main precious metals showed mixed performance:

* **Gold (XAU):** Closed at $4792.90 USD/oz, recording a slight drop of 0.52%.

* **Silver (XAG):** Concluded the day at $76.64 USD/oz, registering a gain of 0.26%.

* **Platinum (XPT):** Finished at $2069.00 USD/oz, with a decline of 2.04%.

* **Palladium (XPD):** Closed at $1539.00 USD/oz, retreating by 1.79%.

* **Copper (HG):** Ended the session at $5.88 USD/oz, with a solid appreciation of 1.96%.

Key Session Factors

Today's session saw the release of US inflation data, which reached a two-year high in March, maintaining pressure on the Federal Reserve to justify the divergence with the inflationary escalation of 2022. This scenario of high inflation, along with the uncertainty derived from the conflict in the Middle East, has driven demand for safe-haven assets like gold, although its advance was contained by the relative strength of the dollar at certain moments.

News from the Middle East, including reports on traffic in the Strait of Hormuz after a pause in fighting and the widespread impact of the war on global economic growth, according to the World Bank, has added a layer of volatility. Copper, for its part, has shown notable strength, driven by industrial demand factors and potential strategic stockpiling amid perceptions of tight medium-term supply.

Statements suggesting 'positive' negotiations with Iran by US political figures, albeit against the backdrop of frustration over the blockade of maritime traffic, add complexity to the geopolitical landscape. In the commodities arena, news of rare earth production in Estonia and investment recommendations in Israeli defense companies have also been on the radar, though with less direct impact on the main precious metals.

Outlook for Tomorrow

For the next session, attention will focus on any new escalation or de-escalation in Middle East geopolitical tensions. Likewise, the interpretation of upcoming macroeconomic data and any indications regarding the Fed's monetary policy will remain crucial for the direction of precious metals. Copper's performance will be interesting to follow, given its recent strength and sensitivity to supply and demand dynamics.

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