Spot gold touched $4,682.32 per ounce early Monday, April 6, 2026, according to market data. By late morning, prices fluctuated around $4,670, with an intraday high of $4,707.20 reported on Kitco charts.

The precious metal has rallied significantly this year, though it remains below its all-time high of $5,608.35 from January 2026. Trading Economics reported gold at $4,683.99 per troy ounce later in the session, up 0.14% from the prior day.

Geopolitical developments contributed to the uptick. Reports of U.S.-Iran ceasefire negotiations offset some pressure from a stronger-than-expected U.S. jobs report, which added 178,000 nonfarm payrolls in March, the largest monthly gain in over a year. This data bolstered views that the Federal Reserve would maintain higher interest rates longer, typically a headwind for non-yielding assets like gold. However, ongoing tensions, including threats to Iranian energy infrastructure, sustained safe-haven demand.

Gold's price has been volatile in recent weeks. It surged past $4,700 multiple times in late March and early April, hitting $4,749.51 on April 1 and $4,796 intraday before reversing. A sharp 8% weekly decline in late March pushed prices toward $4,600, driven by a stronger dollar and rising oil prices. Analysts at Goldman Sachs held a year-end target of $5,400, citing central bank buying and potential Fed cuts later in 2026.

Central banks have been key buyers, with demand fueled by diversification from the dollar and inflation hedges. Stagflation fears and trade uncertainties have also supported the rally, with gold up over 56% year-over-year despite monthly pullbacks.

Silver tracked gold's moves, trading around $73 per ounce, up slightly on the day. Futures for June delivery opened lower at $4,648.60 but showed resilience.

Investors watched for further cues from Washington on diplomacy and economic policy. A Pakistan-brokered ceasefire proposal softened the dollar, aiding gold's recovery. Physical market participants stayed cautious amid mixed signals.