What drives the gold price?
Each row traces a chain of real events that pushed gold higher or lower, month by month. See how geopolitical tensions, dollar shifts, and rate decisions pull the price in different directions.
What's driving markets right now — the full picture, every 3 days. Fast, free.
Sign upMAY 1 – MAY 31, 2026
MAY 18
Closed: +0.24%
🇮🇷 Nuclear Program Freeze
2026-05-18
GOLD PRICE ▲
2026-05-18
Hopes of Iran nuclear deal reduce geopolitical tensions, boosting gold as a safe haven.
🇨🇦 Mining Stock Price Rise
2026-05-20
Higher gold prices boost mining company revenues and profits, lifting their stock prices.
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GOLD PRICE ▲
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🇺🇸 Sanction Removal
2026-05-18
GOLD PRICE ▲
2026-05-18
Hopes of US lifting sanctions on Iran boosted gold prices as geopolitical tensions eased.
🇨🇦 Mining Stock Price Rise
2026-05-20
Higher gold prices boost mining company revenues and profits, lifting their stock prices.
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GOLD PRICE ▲
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MAY 17
Closed: −0.32%
🇮🇷 Conflict Escalation
2026-05-11
🌍 Energy Price Rise
2026-05-11
Conflict escalation disrupts oil supply, raising energy prices globally.
🇺🇸 Inflation Rise
2026-05-15
Higher energy costs increase production and transportation expenses, pushing up overall prices.
🇺🇸 Treasury Yield Rise
2026-05-15
Higher inflation expectations lead investors to demand higher yields on bonds.
GOLD PRICE ▼
2026-05-17
Higher Treasury yields make gold less attractive as an alternative investment, reducing demand.
🇨🇦 Mining Stock Decline
2026-05-19
Falling gold prices reduce mining company revenues, causing their stocks to decline.
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GOLD PRICE ▼
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🌍 Energy Price Rise
2026-05-15
🇺🇸 Inflation Rise
2026-05-15
Higher energy costs increase production and transportation expenses, pushing up overall prices.
🇺🇸 Interest Rate Rise Expectation
2026-05-15
Rising inflation leads to expectations that the Fed will raise interest rates.
🇺🇸 Us Dollar Strength
2026-05-15
Expectations of higher Fed rates strengthen the dollar by attracting foreign investment.
GOLD PRICE ▼
2026-05-17
A stronger US dollar makes gold more expensive for other currency holders, reducing demand.
🇨🇦 Mining Stock Decline
2026-05-19
Falling gold prices reduce mining company revenues, causing their stocks to decline.
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GOLD PRICE ▼
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🇮🇷 Conflict Escalation
2026-05-11
🌍 Energy Price Rise
2026-05-11
Conflict escalation disrupts oil supply, raising energy prices globally.
🇺🇸 Inflation Rise
2026-05-15
Higher energy costs increase production and transportation expenses, pushing up overall prices.
🇺🇸 Interest Rate Rise Expectation
2026-05-17
Higher inflation leads investors to expect central banks will raise interest rates.
GOLD PRICE ▼
2026-05-17
Expectations of higher interest rates make gold less attractive compared to yield-bearing assets.
🇨🇦 Mining Stock Decline
2026-05-19
Falling gold prices reduce mining company revenues, causing their stocks to decline.
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GOLD PRICE ▼
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MAY 15
Closed: −2.61%
🇮🇷 Military Strike
2026-05-15
🌍 Oil Price Rise
2026-05-15
The Iran war and Trump's remark disrupted oil supply, pushing prices higher.
🇺🇸 Inflation Expectation Rise
2026-05-15
Rising oil prices increase costs, fueling fears of higher inflation.
GOLD PRICE ▼
2026-05-15
Inflation fears raise interest rate expectations, making gold less attractive as yields rise.
🇨🇦 Mining Stock Decline
2026-05-15
Gold prices fell, which pressured mining stocks lower.
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GOLD PRICE ▼
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MAY 14
Closed: −0.42%
🇮🇷 Conflict Escalation
2026-05-11
🌍 Energy Price Rise
2026-05-11
Conflict escalation disrupts oil supply, raising energy prices globally.
🇺🇸 Inflation Rise
2026-05-13
Higher fuel costs increase production and transportation expenses, pushing up overall prices.
GOLD PRICE ▼
2026-05-14
Rising US inflation raises rate hike expectations, making gold less attractive as an investment.
🇨🇦 Mining Stock Decline
2026-05-15
Gold prices fell, which pressured mining stocks lower.
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GOLD PRICE ▼
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MAY 13
Closed: +0.43%
🇮🇷 Conflict Escalation
2026-05-11
🌍 Energy Price Rise
2026-05-11
Conflict escalation disrupts oil supply, raising energy prices globally.
🇺🇸 Producer Price Rise
2026-05-13
Higher fuel costs increase production expenses, leading to higher producer inflation.
GOLD PRICE ▼
2026-05-13
Higher producer prices signal inflation, leading to tighter Fed policy, which strengthens the dollar and reduces gold demand.
🇨🇦 Mining Stock Decline
2026-05-15
Gold prices fell, which pressured mining stocks lower.
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GOLD PRICE ▼
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🇺🇸 Military Strike
2026-05-05
🌍 Energy Price Rise
2026-05-05
Fresh US-Iran attacks in the Middle East raised uncertainty, keeping energy prices elevated.
🇺🇸 Treasury Yield Rise
2026-05-08
Higher energy prices increase inflation, leading to expectations of Fed rate hikes.
GOLD PRICE ▼
2026-05-13
Expectations of tighter Fed policy strengthen the dollar, making gold less attractive to investors.
🇨🇦 Mining Stock Decline
2026-05-19
Falling gold prices reduce mining company revenues, causing their stocks to decline.
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GOLD PRICE ▼
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MAY 12
Closed: −0.87%
🇮🇷 Conflict Escalation
2026-05-11
🌍 Energy Price Rise
2026-05-11
Conflict escalation disrupts oil supply, raising energy prices globally.
🇺🇸 Inflation Rise
2026-05-12
Higher energy prices increase production and transportation costs, pushing overall prices up.
🇺🇸 Currency Appreciation
2026-05-12
Higher inflation data strengthened the US dollar, causing currency appreciation.
GOLD PRICE ▼
2026-05-12
A stronger US dollar makes gold more expensive for other currency holders, reducing demand.
🇨🇦 Mining Stock Decline
2026-05-15
Gold prices fell, which pressured mining stocks lower.
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GOLD PRICE ▼
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🇺🇸 Us Dollar Strength
2026-05-12
GOLD PRICE ▼
2026-05-12
A stronger US dollar makes gold more expensive for other currency holders, reducing demand.
🇨🇦 Mining Stock Decline
2026-05-19
Falling gold prices reduce mining company revenues, causing their stocks to decline.
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GOLD PRICE ▼
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MAY 11
Closed: −0.04%
🇮🇷 Geopolitical Agreement Optimism
2026-05-06
🇺🇸 Safe-Haven Demand Decline
2026-05-06
Optimism over a US-Iran deal reduced demand for the safe-haven dollar.
🇺🇸 Dollar Decline
2026-05-07
Reduced safe-haven demand for the US dollar weakens its value against other currencies.
GOLD PRICE ▲
2026-05-11
A weaker dollar makes gold cheaper for foreign buyers, boosting demand and prices.
🇨🇦 Mining Stock Rise
2026-05-11
Higher gold prices boost mining company profits, leading to stock price increases.
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GOLD PRICE ▲
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🌍 Inflation Persistence
2026-05-11
GOLD PRICE ▼
2026-05-11
Persistent inflation may keep interest rates high, reducing gold's appeal.
🇨🇦 Mining Stock Decline
2026-05-15
Gold prices fell, which pressured mining stocks lower.
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GOLD PRICE ▼
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MAY 8
Closed: +0.44%
🌍 Ceasefire Optimism
2026-05-08
GOLD PRICE ▲
2026-05-08
Ceasefire optimism reduces safe-haven demand for gold, but here it eased inflation fears, boosting gold.
🇨🇦 Mining Stock Rise
2026-05-11
Higher gold prices boost mining company profits, leading to stock price increases.
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GOLD PRICE ▲
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MAY 7
Closed: +0.38%
🌍 High Interest Rate Fear Easing
2026-05-07
GOLD PRICE ▲
2026-05-07
Easing fears of high interest rates make gold more attractive as an investment.
🇨🇦 Mining Stock Rise
2026-05-11
Higher gold prices boost mining company profits, leading to stock price increases.
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GOLD PRICE ▲
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🇺🇸 War De-Escalation
2026-05-06
🌍 Oil Price Decline
2026-05-06
De-escalation reduced supply disruption fears, causing oil prices to ease.
🌍 Inflation Worry Decline
2026-05-06
Lower oil prices reduce production costs, easing inflation worries.
GOLD PRICE ▲
2026-05-07
Easing inflation fears reduce the appeal of gold as a hedge, but gold rose anyway.
🇨🇦 Mining Stock Price Rise
2026-05-20
Higher gold prices boost mining company revenues and profits, lifting their stock prices.
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GOLD PRICE ▲
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MAY 6
Closed: +2.77%
🇺🇸 Us Dollar Decline
2026-05-06
GOLD PRICE ▲
2026-05-06
A weaker dollar makes gold cheaper for foreign buyers, boosting demand and prices.
🇨🇦 Mining Stock Rise
2026-05-11
Higher gold prices boost mining company profits, leading to stock price increases.
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GOLD PRICE ▲
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🇺🇸 War De-Escalation
2026-05-06
🌍 Oil Price Decline
2026-05-06
De-escalation reduced supply disruption fears, causing oil prices to ease.
🌍 Inflation Expectation Decline
2026-05-06
Lower oil prices reduce production costs, easing inflation expectations.
GOLD PRICE ▲
2026-05-06
Easing inflation fears reduce the need for high interest rates, making gold more attractive.
🇨🇦 Mining Stock Price Rise
2026-05-20
Higher gold prices boost mining company revenues and profits, lifting their stock prices.
↓
GOLD PRICE ▲
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MAY 5
Closed: +0.8%
🇺🇸 Military Strike
2026-05-05
GOLD PRICE ▲
2026-05-05
Escalating Middle East tensions and US-Iran clashes drive safe-haven demand for gold.
🇨🇦 Mining Stock Rise
2026-05-11
Higher gold prices boost mining company profits, leading to stock price increases.
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GOLD PRICE ▲
🕌 War De-Escalation
2026-05-05
🌍 Oil Price Decline
2026-05-05
De-escalation reduces oil supply disruption fears, pushing oil prices lower.
🌍 Inflation Expectation Decline
2026-05-05
Lower oil prices reduce energy costs, easing inflation concerns.
GOLD PRICE ▲
2026-05-05
Lower oil prices eased inflation worries, making gold more attractive as a safe haven.
🇨🇦 Mining Stock Price Rise
2026-05-20
Higher gold prices boost mining company revenues and profits, lifting their stock prices.
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GOLD PRICE ▲
MAY 4
Closed: −2.33%
🇮🇷 Military Strike
2026-05-04
🌍 Energy Price Rise
2026-05-04
Missile strikes in the Middle East disrupt oil supply, pushing energy prices higher.
🌍 Inflation Expectation Rise
2026-05-04
Higher energy prices increase production costs, raising inflation expectations.
GOLD PRICE ▼
2026-05-04
Fear of higher interest rates makes gold less attractive as it pays no yield.
🇨🇦 Mining Stock Decline
2026-05-04
Gold prices fell, which reduced the value of mining companies' assets and profits.
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GOLD PRICE ▼
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MAY 1
Closed: −1.0%
🇯🇵 Yen Rally
2026-05-01
🇺🇸 Currency Depreciation
2026-05-01
Yen rally strengthens yen, causing dollar to weaken against it.
GOLD PRICE ▲
2026-05-01
A weaker dollar makes gold cheaper for foreign buyers, boosting demand and prices.
🇨🇦 Mining Stock Rise
2026-05-11
Higher gold prices boost mining company profits, leading to stock price increases.
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GOLD PRICE ▲
🇮🇷 Diplomatic Negotiation Progress
2026-05-01
🌍 Oil Price Decline
2026-05-01
Iran's response to peace deal amendments raised hopes of increased oil supply, pushing prices down.
GOLD PRICE ▲
2026-05-01
Lower oil prices reduce inflation fears, making gold more attractive as an investment.
🇨🇦 Mining Stock Price Rise
2026-05-20
Higher gold prices boost mining company revenues and profits, lifting their stock prices.
↓
GOLD PRICE ▲
APR 1 – APR 30, 2026
APR 30
Closed: +1.07%
🇺🇸 Dollar Decline
2026-04-30
GOLD PRICE ▲
2026-04-30
A weaker dollar makes gold cheaper for foreign buyers, boosting demand and prices.
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GOLD PRICE ▲
🕌 Military Conflict
2026-04-30
GOLD PRICE ▲
2026-04-30
The Middle East conflict creates uncertainty, driving investors to safe-haven gold.
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GOLD PRICE ▲
🌍 Safe-Haven Asset Demand Rise
2026-04-30
GOLD PRICE ▲
2026-04-30
Safe-haven demand from geopolitical uncertainty pushed gold prices higher.
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GOLD PRICE ▲
🇮🇷 Diplomatic Negotiation Progress
2026-04-28
🇺🇸 Currency Depreciation
2026-04-28
Diplomatic efforts reduced safe-haven demand, causing the dollar to decline.
GOLD PRICE ▲
2026-04-30
A weaker dollar makes gold cheaper for foreign buyers, boosting demand and prices.
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GOLD PRICE ▲
APR 29
Closed: −1.3%
🇺🇸 Military Strike
2026-04-24
🌍 Energy Price Rise
2026-04-24
Military strike threats and blockades disrupt oil supply, pushing energy prices higher.
🇺🇸 Treasury Yield Rise
2026-04-29
Higher energy prices push central banks toward tighter policy, raising expectations of rate hikes.
GOLD PRICE ▼
2026-04-29
Higher interest rates make gold less attractive as it pays no yield.
🇨🇦 Mining Stock Decline
2026-04-29
Gold prices edged lower, which pressured mining stocks like Agnico Eagle.
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GOLD PRICE ▼
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APR 28
Closed: −1.82%
🇺🇸 Vessel Seizure
2026-04-20
🇮🇷 Military Strike
2026-04-20
The US seized an Iranian vessel, so Iran retaliated with drone strikes.
🌍 Oil Price Rise
2026-04-23
The Iran war lifted fuel costs, increasing global fuel prices.
GOLD PRICE ▼
2026-04-28
Rising oil prices increase inflation fears, leading to expected higher interest rates, which reduce gold's appeal.
🇨🇦 Mining Stock Decline
2026-04-28
Gold prices declined, leading miners to open lower.
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GOLD PRICE ▼
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APR 27
Closed: +0.72%
🇺🇸 Diplomatic Visit Cancellation
2026-04-27
GOLD PRICE ▼
2026-04-27
Cancelling diplomatic talks reduces hope for peace, making gold less attractive as a safe haven.
🇨🇦 Mining Stock Decline
2026-04-28
Gold prices declined, leading miners to open lower.
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GOLD PRICE ▼
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🇮🇷 Peace Proposal Submission
2026-04-27
GOLD PRICE ▲
2026-04-27
Iran's peace proposal reduced geopolitical tensions, boosting demand for gold as a safe haven.
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GOLD PRICE ▲
APR 26
Closed: −0.59%
🇺🇸 Diplomacy Setbacks
2026-04-26
GOLD PRICE ▼
2026-04-26
Peace talks broke down, raising inflation fears and expectations of higher interest rates, which hurt gold.
🇨🇦 Mining Stock Decline
2026-04-28
Gold prices declined, leading miners to open lower.
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GOLD PRICE ▼
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APR 24
Closed: +0.37%
🌍 Peace Talk Progress
2026-04-24
GOLD PRICE ▲
2026-04-24
Hopes for peace talks reduce safe-haven demand, but gold rebounded on cautious optimism.
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GOLD PRICE ▲
🇺🇸 Military Strike
2026-04-24
🌍 Energy Price Rise
2026-04-24
Military strike threats and blockades disrupt oil supply, pushing energy prices higher.
🌍 Inflation Expectation Rise
2026-04-24
Higher oil prices increase costs, fueling concerns about rising inflation.
GOLD PRICE ▼
2026-04-24
Expectations of rate hikes make gold less attractive as it pays no interest.
🇨🇦 Mining Stock Decline
2026-04-28
Gold prices declined, leading miners to open lower.
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GOLD PRICE ▼
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APR 23
Closed: −0.58%
🌍 Inflation Fear
2026-04-23
GOLD PRICE ▼
2026-04-23
Inflation fears raise expectations of higher interest rates, reducing gold's appeal.
🇨🇦 Mining Stock Decline
2026-04-28
Gold prices declined, leading miners to open lower.
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GOLD PRICE ▼
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APR 22
Closed: +0.73%
🇺🇸 Ceasefire Optimism
2026-04-22
GOLD PRICE ▲
2026-04-22
The ceasefire extension reduced geopolitical risk, making gold less attractive as a safe-haven asset, but gold still rose.
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GOLD PRICE ▲
APR 21
Closed: −2.25%
🇺🇸 Peace Talk Collapse
2026-04-21
GOLD PRICE ▼
2026-04-21
Peace talks collapsing reduced safe-haven demand for gold, causing its price to drop.
🇨🇦 Gold Producer Stock Decline
2026-04-21
Lower gold prices reduce the revenue and profitability of gold mining companies, making their stocks less valuable.
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GOLD PRICE ▼
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🇺🇸 Central Bank Chair Confirmation Hearing
2026-04-21
GOLD PRICE ▼
2026-04-21
The Fed chair nominee's pledge to fight inflation made gold less attractive as a hedge.
🇨🇦 Mining Stock Decline
2026-04-28
Gold prices declined, leading miners to open lower.
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GOLD PRICE ▼
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🇺🇸 Currency Appreciation
2026-04-21
GOLD PRICE ▼
2026-04-21
A stronger dollar makes gold more expensive for holders of other currencies, reducing demand and pushing its price down.
🇨🇦 Mining Stock Decline
2026-04-29
Gold prices edged lower, which pressured mining stocks like Agnico Eagle.
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GOLD PRICE ▼
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🇺🇸 Interest Rate Hold Expectation Rise
2026-04-21
GOLD PRICE ▼
2026-04-21
Strong US economic data suggests the Fed can keep rates high, reducing gold's appeal as a safe-haven asset.
🇨🇦 Gold Producer Stock Decline
2026-04-21
Lower gold prices reduce the revenue and profitability of gold mining companies, making their stocks less valuable.
↓
GOLD PRICE ▼
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