Gold falls into a bear market while analysts fear oil prices could rise significantly

By ABC News (Australia)

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The Australian share market has ended the week higher. The S&P/ASX 200 index gained 1.6 per cent to 8,731 points. The week has been dominated by ongoing peace negtotiations in the Middle East and fresh inflation data that has largely cemented the market views that the Reserve Bank will keep interest rates on hold in June. Over the last five days, the index has gained 0.86 per cent, but is virtually unchanged year to date. The benchmark index is down 5 per crnt from its record high in late February. The price of gold has also fallen into a bear market. The yellow metal reached a record high of $US5,597 an ounce on January 29. Today the price of gold is hovering around $US4,500 an ounce, which is down 20 per cent from its record. An asset is said to fall into a "bear market" after a fall of 20 per cent or more. It's worth noting that the price of gold has risen 70 per cent since July 2025. "That's just an astonishing run for any asset, to be frank," nabtrade Director Gemma Dale said. Pa

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