ABC Bullion Monthly Market Update April 2026

Precious metals markets experienced a consolidation during April 2026, following an extended period of outsized gains that carried through to January—followed by the sharp pullback seen in March.

Gold underperformed, falling 1.5% to USD $4,965 per troy ounce (oz) by month-end. However, it has since gained a further 2%, pushing toward USD $4,700oz.

Silver followed a similar pattern over the course of April, declining 1% to USD $74oz. The metal has since rallied more than 15%, with spot silver surpassing $86oz at the time of writing.

This period of price consolidation is unsurprising given the current macro headwinds at play, with certain technical indicators suggesting both metals are experiencing a textbook correction.

Rising yields, a stronger U.S. dollar (DXY), delayed rate cut expectations and liquidity-driven positioning amid the Iran conflict continue to weigh on both metals.

At ABC Bullion, we are still seeing strong levels of new account activations, as well as in-store and online trade, while demand for key physical products as well as our ABC Bullion Gold Saver remains robust.

This provides the ideal backdrop for the release of the ABC Bullion April Monthly Market Update.

With detailed charts on gold, silver and platinum performance, inflation dynamics, commodity prices, comparisons of precious metals markets to risk assets and technical analysis, it is an invaluable resource that helps Australian investors navigate the precious metals market.

Thank you for choosing ABC Bullion.

Jordan Eliseo
General Manager, ABC Bullion

Luke Tyler
Senior Analyst, ABC Bullion

^{Disclaimer: This document has been prepared by Australian Bullion Company (NSW) Pty Limited (ABN 82 002 858 602) (ABC). The information contained in this document or internet related link (collectively, Document) is of a general nature and is provided for information purposes only.. Although the information and opinions contained in this document are based on sources we believe to be reliable, to the extent permitted by law, ABC and its associated entities do not warrant, represent or guarantee, expressly or impliedly, that the information contained in this document is accurate, complete, reliable or current and accept no liability for any loss or damage relating to any use or reliance on the information in this document. The information is subject to change without notice and we are under no obligation to update it.}