U.S. April Inflation Hits 4-Year High, Spot Gold Falls Over 2% on May 15

According to BlockBeats, on May 15, U.S. April inflation data surged to the fastest pace since 2022, with PPI reaching its highest level in four years and CPI recording its largest gain since 2023. The data reignited market concerns about the Federal Reserve maintaining a “higher for longer” interest rate policy, pressuring precious metals prices. Spot gold fell over 2% to around 4,560 dollars per ounce on Friday, while silver dropped over 6% to near 78 dollars.

Energy prices remained elevated due to ongoing Strait of Hormuz tensions, with WTI crude climbing above 103 dollars this week. Analysts noted that rising inflation expectations, coupled with higher Treasury yields and a stronger dollar, continued to weigh on gold demand, which has declined over 12% since the conflict erupted.