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    Gold price nears month high: planning implications for mine project teams

    April 18, 2026|

    Reviewed by Tom Sullivan

    Gold price nears month high: planning implications for mine project teams

    First reported on MINING.com

    30 Second Briefing

    Gold jumped 1.7% to about $4,887/oz, its highest level since 17 March, after Iran reopened the Strait of Hormuz, restoring commercial traffic through a corridor that carries roughly 20% of global oil flows. Silver climbed more than 5% to $83/oz, a five-week high, as easing energy-price and inflation fears revived expectations of interest rate cuts that favour non-yielding assets. Analysts at Zaner Metals and MKS PAMP see scope for a move back towards $5,000/oz in the near term, while Goldman Sachs keeps a bullish $5,400/oz year-end target.

    Technical Brief

    • Since the Middle East war began over six weeks ago, gold had fallen nearly 10% before the rebound.
    • Bullion has now retraced more than half of its war-related losses, indicating partial normalisation of risk pricing.
    • Analysts note gold’s inverse correlation with oil and the US dollar since hostilities started.
    • Gold has simultaneously shown positive correlation with “risk assets”, so peace-related headlines are adding upside momentum.
    • Year to date, gold remains up about 10%, despite the drawdown during the Strait closure.

    Our Take

    Silver’s >5% intraday move and five-week high echoes its prominence in recent Global Mining Power Rankings coverage, where silver-linked names such as Vizsla Silver and Sidney Resources repeatedly feature alongside gold, suggesting investor appetite for dual gold–silver exposure rather than pure-play gold hedging.

    Because around a fifth of world oil flows through the Strait of Hormuz, the same Middle East chokepoint risk that is moving oil in this article also underpins the ‘security zone’ framing in our Latin America critical minerals piece, signalling that energy-route vulnerability is increasingly a pricing factor for both precious metals and critical minerals supply chains.

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    Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.

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