--- title: "The resumption of navigation in the Hormuz Strait boosts precious metals, analysts are optimistic about gold returning to $5,000" type: "News" locale: "en" url: "https://longbridge.com/en/news/283206111.md" description: "Affected by Iran's announcement to open the Strait of Hormuz to all merchant ships, international gold and silver prices have risen. Wall Street analysts are generally optimistic about gold prices continuing to rise in the coming week, with expectations that gold prices may return to $5,000. Spot gold rose by 0.92%, reported at $4,834.05 per ounce, while spot silver rose by 3.27%, reported at $80.9822 per ounce. Analysts pointed out that the reopening of the Strait of Hormuz will alleviate inflation concerns and may boost market expectations for interest rate cuts" datetime: "2026-04-18T01:43:06.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/283206111.md) - [en](https://longbridge.com/en/news/283206111.md) - [zh-HK](https://longbridge.com/zh-HK/news/283206111.md) --- # The resumption of navigation in the Hormuz Strait boosts precious metals, analysts are optimistic about gold returning to $5,000 According to Zhitong Finance APP, influenced by Iran's announcement to open the Strait of Hormuz to all merchant ships, international gold and silver prices both rose on Friday, while crude oil prices and the US dollar index fell. Most Wall Street analysts expect gold prices to continue rising in the coming week. Data shows that on Friday, spot gold rose by 0.92% to $4,834.05 per ounce, accumulating a weekly increase of 1.78%; COMEX gold futures rose by 1.01% to $4,856.60 per ounce, with a weekly increase of 1.44%. Spot silver rose by 3.27% to $80.9822 per ounce, accumulating a weekly increase of 6.74%; COMEX silver futures rose by 3.09% to $81.720 per ounce, with a weekly increase of 6.04%. **Multiple analysts are bullish: Gold prices are expected to return to $5,000** Peter Grant, senior metals strategist at Zaner Metals, stated, "The reopening of the Strait of Hormuz is a key turning point. Against the backdrop of pressured oil prices, this news is expected to alleviate inflation concerns and reignite market expectations for interest rate cuts, which is favorable for gold." He added that gold prices are expected to return above $5,000 in the short term. Peter Cardillo, an analyst at Spartan Capital Securities, pointed out in a report that the navigation of the strait is particularly beneficial for silver, which has the fundamentals to strengthen. Industrial demand combined with a rebound in safe-haven demand is expected to support silver prices upward. He also stated that if the situation in the Middle East eases, leading to a weaker dollar and declining US Treasury yields, gold prices still have room for further increases, as a weak dollar and low-interest-rate environment are clearly favorable for gold, which is priced in dollars and has no interest yield. Marc Chandler, managing director at Bannockburn Global Forex, believes, "Gold prices are expected to continue rising in the coming week, as the market gradually returns to previous trading logic. The pressure from major central banks selling gold may weaken, and buying interest will continue. The resistance level for gold prices is around $5,000, and momentum indicators are generally positive. Currently, gold is more inclined towards risk asset attributes rather than merely serving as a hedge against geopolitical conflicts or inflation." Adam Button, head of forex strategy at Forexlive.com, also focuses on the gold trend after the reopening of the Strait of Hormuz. He stated, "Gold is a 'peace trading commodity,' and the current market trend confirms this. During the previous conflict phase, gold prices were significantly suppressed by two major factors: first, deleveraging pressure, where gold long positions were too crowded, leading to concentrated selling of various crowded long positions; second, emerging markets concentrated on reducing their gold holdings. Emerging economies with large gold reserves and a high dependence on oil imports generally face pressure on their local currencies, and these countries sell gold to stabilize exchange rates or to purchase oil and balance international payments." He further pointed out: "If oil prices remain at a high of $150, emerging markets may face a currency crisis, and more countries will be forced to sell gold reserves to stabilize their local currencies, as Turkey has already taken such actions. Looking at it now, this risk has basically dissipated." Barton emphasized that to cope with potential crises, emerging market countries still need to further increase their gold reserves. He stated: "Currently, funds are continuously flowing into the gold market, and gold prices are moving towards $5,000." "Gold is no longer as fervently pursued by the market as it was in January, when almost everyone was discussing gold," Barton added. "Federal Reserve Chair nominee Kevin Walsh will attend a hearing on the 21st, and this event is worth paying close attention to. To smoothly pass the nomination, he is likely to release dovish signals, and the market is also likely to choose to believe this statement." "I believe he will release dovish policy signals, and investors may consider going long on gold at that time." **Beware of "buy the expectation, sell the fact"** However, the market is not entirely bullish. FxPro senior market analyst Alex Kuptsikevich expects gold prices may retreat next week. He stated: "Gold prices are gradually recovering, having once approached the $4,900 area, which is also where the 50-day moving average is located, a direct response to the easing situation in the Middle East." He also reminded: "The market needs to be wary of the 'buy the expectation, sell the fact' trend. Although the upward trend in gold has not been broken, the upward momentum has slowed." "Next week, we need to pay close attention to gold prices around the 50-day moving average. If it effectively breaks through $4,900, it is expected to further test $5,300 in the coming weeks; if it retreats from this level, which is our more preferred judgment, it may signal the end of this upward trend." **Focus on U.S. economic data and Walsh's hearing** As the situation in the Middle East eases, market focus is expected to shift back to U.S. economic data, which may influence market expectations for Federal Reserve policy and, in turn, affect the trend of precious metals. The U.S. Senate confirmation hearing for Kevin Walsh to become Federal Reserve Chair is scheduled for next Tuesday. The market generally expects Walsh to release dovish monetary policy signals, which are likely to continue supporting gold prices ### Related Stocks - [KGC.US](https://longbridge.com/en/quote/KGC.US.md) - [600547.CN](https://longbridge.com/en/quote/600547.CN.md) - [NEM.US](https://longbridge.com/en/quote/NEM.US.md) - [AEM.US](https://longbridge.com/en/quote/AEM.US.md) - [SGOL.US](https://longbridge.com/en/quote/SGOL.US.md) - [SIVR.US](https://longbridge.com/en/quote/SIVR.US.md) - [GBUG.US](https://longbridge.com/en/quote/GBUG.US.md) - [SLV.US](https://longbridge.com/en/quote/SLV.US.md) - [DBP.US](https://longbridge.com/en/quote/DBP.US.md) - [518850.CN](https://longbridge.com/en/quote/518850.CN.md) - [82824.HK](https://longbridge.com/en/quote/82824.HK.md) - [GDX.US](https://longbridge.com/en/quote/GDX.US.md) - [09824.HK](https://longbridge.com/en/quote/09824.HK.md) - [02824.HK](https://longbridge.com/en/quote/02824.HK.md) - [IAU.US](https://longbridge.com/en/quote/IAU.US.md) - [GLD.US](https://longbridge.com/en/quote/GLD.US.md) ## Related News & Research - [PRECIOUS-Gold falls on stronger dollar amid renewed US-Iran tensions](https://longbridge.com/en/news/283275886.md) - [PRECIOUS-Gold firms on softer dollar, hopes of US-Iran talks resuming](https://longbridge.com/en/news/282705746.md) - [PRECIOUS-Gold drifts lower with eyes on US-Iran developments](https://longbridge.com/en/news/282850148.md) - [PRECIOUS-Gold eyes fourth weekly gain on hopes of US-Iran peace deal](https://longbridge.com/en/news/283072619.md) - [PRECIOUS-Gold climbs as dollar weakens, drop in oil prices tempers inflation fears](https://longbridge.com/en/news/282607884.md)