Muscat: Gold prices rebounded today from a one-month low hit the day before, supported by a weaker US dollar, despite rising oil prices that kept concerns about inflation and the prospect of higher interest rates for a longer period. Spot gold increased by 0.6% to $4,566.73 per ounce, after falling to its lowest level since 31 March 2026 in the previous session.

According to Oman News Agency, US gold futures for June delivery rose 0.4% to $4,578.50. The precious metals market also saw gains in other areas, with spot silver rising 1% to $72.18 per ounce. Additionally, platinum gained 1.7% to reach $1,911, and palladium rose by 0.9% to $1,470.40.

The rebound in gold prices comes amid a backdrop of fluctuating economic indicators, with the weaker US dollar providing some support despite the overarching concerns of inflation driven by rising oil prices. The market continues to watch closely for any signs of changes in interest rates, which could impact future gold pricing.