<p>May 1 (Reuters) - Gold held steady on Friday, but was on course for a weekly decline as higher oil prices fuelled inflation worries and clouded the interest rate outlook.</p>
<h3>FUNDAMENTALS</h3>
<ul>
<li>Spot gold  (XAU=)  was unchanged at $4,622.41 per ounce, as of 0046 GMT, after rising more than 2% in the previous session. The metal was on track for a weekly loss of 1.8%.</li>
<li>U.S. gold futures  (GCcv1)  for June delivery rose 0.1% to $4,635.10.</li>
<li>Iran said on Thursday it would respond with “long and painful strikes” on U.S. positions if Washington renewed attacks and restated its claim to the Strait of Hormuz, complicating U.S. plans for a coalition to reopen the waterway.</li>
<li>Brent oil rose to a four-year peak of over $126 a barrel on Thursday before pulling back.  (O/R)</li>
<li>The European Central Bank and the Bank of England kept interest rates unchanged on Thursday, as expected, following holds earlier in the week by the Federal Reserve and the Bank of Japan.</li>
<li>Global brokerages have gradually stepped back from earlier expectations of two U.S. rate cuts in 2026, with forecasts now split between some easing and none due to lingering inflation risks and cautious policymakers.</li>
<li>Data showed the U.S. Personal Consumption Expenditures Price Index jumped 0.7% last month, the largest gain since June 2022. The increase was in line with economists’ expectations.</li>
<li>India’s April gold imports are set to fall to a near 30-year low of around 15 metric tons, industry and government sources said, because banks have been hit by an unexpected tax demand.</li>
<li>China’s Central bank and customs authority said on Thursday they would streamline gold import-export permit rules, finalising a plan first proposed in September.</li>
<li>Spot silver  (XAG=)  rose 0.8% to $74.34 per ounce, platinum (XPT=)  gained 0.1% to $1,987.55, and palladium  (XPD=)  was up 0.3% at $1,528.39.</li>
</ul>
<h3>DATA/EVENTS (GMT)</h3>
<p>0600  UK   Nationwide House Price MM, YY  Apr</p>
<p>0830  UK   S&amp;P Global Manufacturing PMI   Apr</p>
<p>1345  US   S&amp;P Global Mfg PMI Final   Apr</p>
<p>1400  US   ISM Manufacturing PMI   Apr</p>

601899

600547

Reuters

Agnico Eagle Mines

Zijin Mining

SD-GOLD

ZHONGJIN GOLD

Newmont

Kinross Gold

EFUND GOLD MI ETF

EFUND GOLD MI-U

ChinaAMC Gold ETF

Us Gbl GLD & Met

Direxion Daily Jr Gold Miners Bull 2X

iShares MSCI Global Gold Miners

Pro Ultr GLD

VanEck Junior Gold Miners ETF

SPDR Gold Shares

EFUND GOLD MI-R

SPDR Gold Minishares

Sprott GLD Miners Etf

iShares Gold Trust

Microsectors Gold Miners 3x Leveraged ETN

GLOBAL X Gold Explorers

Roundhill Gold Miners Weeklypay ETF

Direxion Daily Gold Miners Bull 2X

VanEck Gold Miners ETF

Direxion Daily Jr Gold Miners Bear 2X

YieldMax Gold Miners Opt Inc Strgy ETF

Abrdn Gold ETF Trust

Thomson Reuters

PRECIOUS-Gold heads for weekly loss amid oil-driven inflation concerns