April 7, 2026

Market Overview 01-04-2026 to 07-04-2026

Market turmoil pushes precious metals down

Last week, a period of price decline was recorded in the precious metals market. This was associated with new ultimatums in the geopolitical sphere, record-high energy resource prices, and a significantly increasing risk of high inflation.

Last week, the global gold price fell by more than 1.9% and reached 4,664 USD per troy ounce. The average gold price for the current month stands at 4,739 USD per troy ounce.

The recent decline in gold price has been driven by Donald Trump’s particularly aggressive rhetoric. The U.S. president maintains a strict ultimatum towards the Iranian government. If Iran does not reopen the Strait of Hormuz by this Tuesday evening (8:00 PM Eastern Time), Trump stated that the U.S. would respond by bombing Iranian infrastructure, including power plants and bridges.

Although wars and other geopolitical conflicts often stimulate growth in the precious metals market, in this case investors fear long-term economic losses. According to some experts, the impact of this Middle East conflict on the oil market is already greater than the combined damage of the two oil crises of the 1970s and Russia’s invasion of Ukraine.

Rising energy prices are undermining investors’ expectations that the Fed or other major central banks will continue reducing interest rates. This shift in monetary policy is particularly unfavourable for precious metals. If the Fed halts rate cuts, the U.S. dollar will naturally strengthen. This means that dollar-denominated precious metals (gold, silver, etc.) may theoretically become a less attractive investment option for holders of foreign currencies.

The global silver price decreased by more than 3.5% from April 1 to April 7, reaching 72.39 USD per troy ounce. The average silver price for the current month is 74.87 USD per troy ounce.

The correction in silver price is strongly influenced by rising oil price. Since March 2, the price of crude oil (the Brent benchmark) has increased from 77 to 110 USD per barrel. This is a highly significant change for the global silver sector. This precious metal, widely used not only for investment but also in industrial production, is more sensitive to crisis situations and rising energy prices.

The global palladium price recorded minimal changes from April 1 to April 7. On April 7, the price reached 1,478 USD per troy ounce. The average monthly palladium price stands at 1,472 USD per troy ounce.

The global platinum price also did not record significant changes at the beginning of this month. On April 7, the market price reached 1,958 USD per troy ounce. The average monthly platinum price stands at 1,960 USD per troy ounce.

The global copper price reached 12,391 USD per tonne on April 7.