Silver Rises Over 120% YTD 
Gold prices held steady around $3,388 per ounce as traders await the Federal Reserve’s interest rate decision and monitor Middle East tensions. While gold remained flat, platinum surged 3.5% to hit a four-year high of $1,307, driven by speculation it could replace expensive gold in Chinese jewelry demand. The Fed is expected to keep rates unchanged, with geopolitical uncertainty continuing to support precious metals demand.
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Gold Is Up 41% From a Year Ago. The Fed Can’t Stop It
Gold is trading at $4,648/oz — up 41% from a year ago, down 14% from January’s record. Both numbers are true. The one that matters is the 41%. It held through a war, three hawkish Fed holds, and the most fractured FOMC vote since 1992. Here’s why that gap between the record and today’s price is a floor, not a warning.
May 1, 2026
