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42 stories mentioning Gold FuturesUpdated 39d ago

Gold climbed for a second day as the US-Iran truce sent the dollar and yields lower, easing inflation fears after touching a seven-month low.

Update: Gold Drops as Dollar Rises to 13-Month High After Fed Signals Higher Rates Could Be Coming

(Updates the gold price in the second paragraph)Gold traded lower midafternoon Monday as the U.S. dollar climbed to its highest level in more than a year, extending gains after the Federal Reserve signaled it could raise interest rates later this year to curb inflation.Gold for December delivery was last seen down 0.9% to US$4,206.80 per ounce."For now, the yellow metal remains stuck in technical limbo, trading between key support at USD 4,000-4,100 and resistance from the 200-day moving average, currently near USD 4,466," Saxo Bank noted.The dollar edged up to the highest since May 2025. The ICE dollar index was last seen up 0.17 points to 101.02. Treasury yields were also higher, with the U.S. two-year note last seen yielding 4.236%, up 4.9 basis points, while the 10-year Treasury note yield was up 5.7 points to 4.517%.

Gold Drops as Dollar Rises to a 13-Month High After Fed Signaled Higher Interest Rates Could Be Coming

Gold traded lower early Monday as the U.S. dollar climbed to its highest level in more than a year, extending gains after the Federal Reserve signaled it could raise interest rates later this year to curb inflation.Gold for December delivery was last seen down 0.5% to US$4,225.00 per ounce."For now, the yellow metal remains stuck in technical limbo, trading between key support at USD 4,000-4,100 and resistance from the 200-day moving average, currently near USD 4,466," Saxo Bank noted.The dollar edged up early to the highest since May 2025. The ICE dollar index was last seen up 0.05 points to 100.91. Treasury yields were sharply higher, with the U.S. two-year note last yielding 4.228%, up 4.1 basis points, while the 10-year Treasury yield rose 3.8 basis points to 4.498%.

Gold Extends Losses as Fed Rate-Hike Outlook Supports Dollar

Gold prices fell early Friday for a second straight session, even as the dollar retreated from a 13-month high reached after the Federal Reserve indicated it may raise interest rates to curb rising inflation.Gold for July delivery was last seen down 1.8% to US$4,168.90 per ounce.The Federal Open Market Committee on Wednesday left U.S. benchmark interest rates unchanged but warned of a future hike. Half of the committee members said they expect rates to rise this year as inflation remains well above the Fed's 2% target rate due to high oil prices. The threat of higher interest rates is supporting the dollar, a bearish indicator for commodities priced in the currency."The Federal Open Market Committee on Wednesday left U.S. benchmark interest rates unchanged. Half of the committee members still expect rates to rise this year as inflation remains well above the 2% target rate. While the market initially welcomed the US-Iran MOU and the prospect of lower energy prices, attention has shifted back to the Fed and the possibility of another rate hike later this year," Saxo Bank wrote.The dollar moved down from the highest since May 2025, with the ICE dollar index last seen down 0.13 points to 100.72. Treasury yields fell, with the two-year note last seen paying 4.187%, down 0.8 basis points. The yield on the 10-year note was down 4.0 points to 4.46%

Update: Gold Falls, Dollar Rises as Half of Fed Members Expect a Rate Increase in 2026

(Updates price move in second paragraph.)Gold was lower in late-day trading Thursday as the dollar rose to its highest level in more than a year after the US Federal Reserve left interest rates unchanged at the conclusion of its two-day policy meeting on Wednesday.Gold, which has an inverse relationship with the greenback, was down US$135.90 to US$4,245.70 per ounce. The dollar was up 0.5% Thursday, heading for its highest close since May 2025.The Federal Open Market Committee on Wednesday left U.S. benchmark interest rates unchanged. Half of the committee members still expect rates to rise this year as inflation remains well above the 2% target rate."Gold tumbled ... after a surprisingly hawkish FOMC meeting signalled the potential for another rate hike later this year," Saxo Bank wrote.Treasury yields fell, with the US two-year note last seen paying 4.162%, down 3.3 basis points, while the yield on the 10-year note was down 5.9 points to 4.441%.

Gold Falls as Fed Signals Potential Rate Hike, Dollar Hits One-Year High

Gold traded lower early Thursday as the dollar rose to its highest level in more than a year after the Federal Reserve left interest rates unchanged at the conclusion of its two-day policy meeting on Wednesday, while signaling that rates could rise later this year.Gold for July delivery was last seen down US$106.50 to US$4,274.90 per ounce.The drop comes after the Federal Open Market Committee on Wednesday left U.S. benchmark interest rates unchanged, but Bloomberg reported half of the committee members expect to raise rates this year as inflation remains well above the 2% target rate."Gold tumbled ... after a surprisingly hawkish FOMC meeting signalled the potential for another rate hike later this year," Saxo Bank wrote.The potential for higher rates boosted the dollar, with the ICE dollar index last seen up 0.6 points to 100.69, the highest since May, 2025. Treasury yields were mixed, with the U.S. two-year note last seen paying 4.2%, up 0.7 basis points, while the yield on the 10-year note was down 5.3 points to 4.447%.

Update: Gold Edges Down As Dollar Steadies On Strong U.S. Retail Sales Report Ahead Of Fed's Rate Decision

(Updates prices.)Gold was higher midafternoon Wednesday even as the dollar rose after a report showed U.S. retail sales rose more than expected last month ahead of the latest interest rate decision coming from the Federal Reserve.Gold for July delivery was last seen up US$37.10 to US$4.391.50 per ounce.The U.S. Census Bureau reported May retail sales rose by 0.9% in May, up from a revised 0.4% in April and topping expectations for a rise of 0.5%, according to Marketwatch.The bullish data comes ahead of the latest interest-rate decision from the Federal Reserve's policy committee coming later this afternoon, the first under new Fed Chair Kevin Warsh. The Federal Open Market Committee is expected to leave rates unchanged despite the higher inflation that followed high oil prices due to the Iran-U.S. war."Traders will be watching closely for any guidance from Chair Kevin Warsh on the inflation outlook, as well as clues on how the Federal Reserve balances still-elevated price pressures against signs of slowing economic momentum," Saxo Bank noted.The dollar also moved higher, with the ICE dollar index last seen up 0.14 points to 99.68. Treasury yields were mostly steady, with the U.S. two-year note last seen paying 4.071%, up 0.3 basis points, while the 10-year note was down 1.1 points to 4.434%.

Gold Edges Down As Dollar Steadies On Strong U.S. Retail Sales Report Ahead Of Fed's Rate Decision

Gold edged lower early Wednesday as the dollar rose after a report showed U.S. retail sales rose more than expected last month ahead of the latest interest rate decision coming from the Federal Reserve.Gold for July delivery was last seen down US$4.40 to US$4.350.00 per ounce.The U.S. Census Bureau reported May retail sales rose by 0.9% in May, up from a revised 0.4% in April and topping expectations for a rise of 0.5%, according to Marketwatch.The bullish data comes ahead of the latest interest rate decision from the Federal Reserve's policy committee coming later this afternoon, the first under new Fed Chair Kevin Warsh. The Federal Open Market Committee is expected to leave rates unchanged despite the higher inflation that followed the high oil prices due to the Iran-U.S. war."Traders will be watching closely for any guidance from Chair Kevin Warsh on the inflation outlook, as well as clues on how the Federal Reserve balances still-elevated price pressures against signs of slowing economic momentum," Saxo Bank noted.The dollar edged higher, with the ICE dollar index last seen up 0.05 points to 99.59. Treasury yields were mostly steady, with the U.S. two-year note last seen paying 4.071%, up 0.3 basis points, while the 10-year note was down 0.1 points to 4.435%.

Update: Gold Steady As The Iran War Truce Eases Inflation Worries

(Updates prices.)Gold was steady midafternoon Tuesday as inflation fears ebbed while oil prices eased after the United States and Iran reached an interim deal to end their war.Gold for July delivery was last seen down US$0.90 to US$4,350.70 per ounce.The weekend memorandum of understanding between the United States and Iran sent oil prices to a three-month low, easing concerns the inflation that has followed high prices for the commodity would force central banks to raise interest rates. However the Federal Reserve's policy committee begins its two-day meeting today, with the CME FedWatch Tool seeing a 99.6% probability the group will leave rates unchanged."Following last week's capitulation-style sell-off, which took bullion near US$4,000, positioning has become considerably cleaner, leaving traders better placed to respond to shifts in either the technical or fundamental outlook. With market expectations geared towards a rate hike later this year, attention now turns to Wednesday's FOMC, the first under new Chair Kevin Warsh," Saxo Bank wrote in a note to clients.The dollar eased, with the ICE dollar index last seen down 0.1 points to 99.53. Treasury yields were lower, with the U.S. two-year note last seen paying 4.052%, down 2.9 basis points, while the yield on the 10-year note was down 5.4 points to 4.427%

Gold Rises Again As Prospect of Iran War Truce Eases Inflation Worries

Gold rose for a third session early Tuesday as inflation fears ebbed while oil prices eased after the United States and Iran reached an interim deal to end their war.Gold for July delivery was last seen up $24.30 to US$4,375.90 per ounce.The rise follows on a weekend MOU between the United States and Iran that sent oil prices to a three-month low, easing concerns the inflation that has followed high prices for the commodity would force central banks to raise interest rates. However the Federal Reserve's policy committee begins its two-day meeting today, with the CME FedWatch Tool seeing a 99.6% probability the group will leave rates unchanged."Following last week's capitulation-style sell-off, which took bullion near US$4,000, positioning has become considerably cleaner, leaving traders better placed to respond to shifts in either the technical or fundamental outlook. With market expectations geared towards a rate hike later this year, attention now turns to Wednesday's FOMC, the first under new Chair Kevin Warsh," Saxo Bank wrote in a note to clients.The dollar was steady early, with the ICE dollar index last seen up 0.03 points to 99.66. Treasury yields were lower, with the U.S. two-year note last seen paying 4.075%, down 0.6 basis points, while the yield on the 10-year note was down 2.5 points to 4.456%

Update: Gold Sharply Higher As the U.S. and Iran Reach a Truce, Easing Inflation Worries

(Updates prices.)Gold rose midafternoon Monday, climbing for a second day as the U.S. dollar and yields fell after Iran and the United States agreed to a truce in their war, pushing oil prices lower and easing inflation fears that have pushed investors away from the precious metal.Gold for July delivery was last seen up US$114.30 to US$4,353.10 per ounce.The price of the metal has slumped 19% since the United States and Israel launched their war on Iran on Feb. 28. With the high oil prices that followed the closing of the Strait of Hormuz, the choke point for a fifth of daily oil demand, boosting inflation, investors turned to the dollar as a hedge against potential interest-rates by central banks and away from gold."Gold and other hard assets rallied strongly after the announcement of an interim peace deal, as easing concerns over energy prices helped reduce the inflation threat that has weighed heavily on the sector throughout the Middle East conflict. Lower oil prices have also prompted traders to scale back expectations for further interest-rate hikes, providing an additional tailwind for precious metals," Saxo Bank noted.The dollar traded lower early, with the ICE dollar index last seen down 0.16 points to 99.59. Treasury yields also fell, with the U.S. two-year note last seen paying 4.068%, down 2.5 basis points, while the yield on the 10-year note was down 1.6 points to 4.473%.

Gold Sharply Higher As the U.S. and Iran Reach a Truce, Easing Inflation Worries

Gold rose for a second day early Monday as the U.S. dollar and yields fell after Iran and the United States agreed to a truce in their war, pushing oil prices lower and easing inflation fears that have pushed investors away from the precious metal.Gold for July delivery was last seen up US$124.80 to US$4,363.60 per ounce.The price of the metal has slumped 19% since the United States and Israel launched their war on Iran on Feb. 28. With the high oil prices that followed the closing of the Strait of Hormuz, the choke point for a fifth of daily oil demand, boosting inflation, investors turned to the dollar as a hedge against potential interest-rates by central banks and away from gold."Gold and other hard assets rallied strongly after the announcement of an interim peace deal, as easing concerns over energy prices helped reduce the inflation threat that has weighed heavily on the sector throughout the Middle East conflict. Lower oil prices have also prompted traders to scale back expectations for further interest-rate hikes, providing an additional tailwind for precious metals," Saxo Bank noted.The dollar traded lower early, with the ICE dollar index last seen down 0.26 points to 99.49. Treasury yields also fell, with the U.S. two-year note last seen paying 4.052%, down 4.1 basis points, while the yield on the 10-year note was down 3.3 points to 4.457%.

Update: Gold Rises Off a Seven-Month Low on Hopes a U.S.-Iran Peace Deal is Near

(Updates prices.)Gold traded sharply higher midafternoon on Friday, rising off a seven-month low on expectations Iran is ready to sign a peace deal with the United States, promising to lower the high oil prices that have raised inflation and boosted the U.S. dollar and bond yields.Gold for July delivery was last seen up US$124.80 to US$4,238.80 per ounce after falling to the lowest since Nov. 20 a day earlier.The rise comes as U.S. President Trump on Thursday said he canceled planned attacks on Iran and said a peace deal with the country is near. Reports said a deal could be signed this weekend, however the Wall Street Journal said Iran has not yet agreed to the peace proposal, though Qatar's leader, Sheikh Tamim bin Hamad al-Thani, who is mediating talks, confirmed progress is being made on a agreement.A deal could see the Strait of Hormuz reopen freeing up trapped supplies from the Persian Gulf nations that supplied about 20% of daily oil demand before the Strait was closed to shipping at the Feb. 28 start of the war, easing the high oil prices that have boosted inflation and threatened to force central banks to raise interest rates."Before the market can look beyond the next headline and refocus on longer-term supportive themes, investors need confidence that the inflation genie is being pushed back into the bottle. For that to happen, markets will need a peace agreement signed and endorsed by both sides," Saxo Bank wrote.The dollar was lower, with the ICE dollar index last seen down 0.12 points to 99.74. Treasury yields rose, bearish for gold since it pays no interest. The U.S. two year note was last seen paying 4.087%, up 1.5 basis points, while the yield on the 10-year note was up 1.0 points to 4.482%.

Gold Rises Off a Seven-Month Low on Hopes a U.S.-Iran Peace Deal is Near

Gold traded sharply higher early on Friday, rising off a seven-month low on expectations Iran is ready to sign a peace deal with the United States, promising to lower the high oil prices that have raised inflation and boosted the U.S. dollar and bond yields.Gold for July delivery was last seen up US$108.00 to US$4,222.00 per ounce after falling to the lowest since Nov. 20 a day earlier.The rise comes as U.S. President Trump on Thursday said he canceled planned attacks on Iran and said a peace deal with the country is near. Reports said a deal could be signed this weekend, however the Wall Street Journal said Iran has not yet agreed to the peace proposal, though Qatar's leader, Sheikh Tamim bin Hamad al-Thani, who is mediating talks, confirmed progress is being made on a agreement.A deal could see the Strait of Hormuz reopen freeing up trapped supplies from the Persian Gulf nations that supplied about 20% of daily oil demand before the Strait was closed to shipping at the Feb. 28 start of the war, easing the high oil prices that have boosted inflation and threatened to force central banks to raise interest rates."Before the market can look beyond the next headline and refocus on longer-term supportive themes, investors need confidence that the inflation genie is being pushed back into the bottle. For that to happen, markets will need a peace agreement signed and endorsed by both sides," Saxo Bank wrote.The dollar was steady early, with the ICE dollar index last seen down 0.02 points to 99.83. Treasury yields rose, bearish for gold since it pays no interest. The U.S. two year note was last seen paying 4.093%, up 2.1 basis points, while the yield on the 10-year note was up 1.7 points to 4.489%.

Update: Gold Rises on a Restart of Iranian Talks; U.S. Wholesale Inflation Rose More Than Expected in May

(Adds detail on restart of talks with Iran and updates prices.)Gold rose off a six-month low midafternoon on Thursday, rising for the first time in five session as U.S. wholesale price inflation rose more than expected last month while the dollar and yields fell after U.S. President Trump canceled planned attacks on Iran and talks between the two are resuming.Gold for July delivery was last seen up US$10.00 to US$4,143.30 per ounce, rising off the lowest since Nov.24 and recovering from session lows of US$4,046.20.The Wall Street Journal reported Trump canceled the strikes after Iran's leadership and other parties in the talks approved "discussions and final points" for talks to end the war. The U.S. blockade of Iran's ports will remain in place until a final deal is reached..The U.S. Bureau of Labor Statistics on Thursday reported the Producer Price Index (PPI) rose by 1.1% in May, down from 1.4% annualized in April but ahead of expectations for a rise of 0.7%, according to MarketWatch. Core PPI, excluding volatile foods, energy, and trade services, rose 0.8% monthly, down form 1% in April but again ahead of expectations for a rise of 0.5%.The report follows the Wednesday release of the U.S. Consumer Price Index that rose at a 4.2% annualized rate in May, up from 3.8% a month earlier. The rise in oil prices that has followed the U.S. war on Iran keeps inflation hot and pushes traders to the dollar as a hedge against the threat central banks will need to hike interest rates to slow rising prices.The dollar fell following Trump's comments, with the ICE dollar index last seen down 0.12 points to 99.83. Treasury yields were sharply lower, with the US. two-year note last seen paying 4.085%, down 7.5% basis points, while the yield on the 10-year note was down 8.0 points to 4.479%.

Gold Trading at a Seven-Month Low on a Higher Dollar After U.S. Wholesale Prices Rose More Than Expected in May

Gold fell to a seven-month low early on Thursday, dropping for a fifth-straight session as U.S. wholesale price inflation rose more than expected last month, boosting the dollar.Gold for July delivery was last seen down US$48.30 to US$4,085.00, the lowest since Nov.18.The U.S. Bureau of Labor Statistics on Thursday reported the Producer Price Index (PPI) rose by 1.1% in May, down from 1.4% annualized in April but ahead of expectations for a rise of 0.7%, according to MarketWatch. Core PPI, excluding volatile foods, energy, and trade services, rose 0.8% monthly, down form 1% in April but again ahead of expectations for a rise of 0.5%.The report follows the Wednesday release of the U.S. Consumer Price Index that rose at a 4.2% annualized rate in May, up from 3.8% a month earlier. The rise in oil prices that has followed the U.S. war on Iran keeps inflation hot and pushes traders to the dollar as a hedge against the threat central banks will need to hike interest rates to slow rising prices.Gold's "decline gathered further pace on Wednesday following the strong US inflation print and renewed gains in oil prices after fresh attacks in the Middle East", Saxo Bank noted.The dollar rose following the PPI report, with the ICE dollar index last seen up 0.11 points to 100.05. Treasury yields were lower, with the US. two-year note last seen paying 4.15%, down 0.8 basis points, while the yield on the 10-year note was down 2.6 points to 4.533%.

Update: Gold Falls to the Lowest in More than Six Months as U.S. Inflation Rose Again in May

(Updates prices.)Gold traded at the lowest in more than six months early on Tuesday as the metal falls out of favor with traders, who are moving to the dollar as a hedge as a report showed U.S. inflation rose again last month, heightening expectations the Federal Reserve will raise interest rates to check rising prices.Gold for July delivery was last seen down US$155.80 per ounce to 4,1130.80 per ounce, the lowest since Nov.24.The drop comes as the U.S. Bureau of Labor Statistics reported the May Consumer Price Index (CPI) rose at a 4.2% annualized rate, up from 3.8% in April but matching expectations, according to Marketwatch. Core CPI, excluding volatile food and energy, rose 2.9% annualized, up from 2.8% a month earlier and again matching consensus expectations.The rise in costs has come on higher energy prices as the U.S. war on Iran blocked the Strait of Hormuz, keeping much of the 20% of daily oil exports supplied by Persian Gulf nations off the market. The bureau said rising oil prices accounted for over 60% of the monthly rise in costs.High inflation is raising worries the Federal Reserve will need to boost interest rates to slow demand, bearish for gold since it pays no interest. The CME FedWatch Tool currently expects the central bank's policy committee will leave rates unchanged when it meets next week but the probability of rate hike in September is rising."A slump in precious metals gathered momentum on Tuesday ... as rising US inflation concerns and growing expectations of Federal Reserve rate hikes continued to pressure sentiment. The move is forcing investors with long-held bullish positions to reassess the outlook, particularly as higher inflation and tighter monetary policy create a less supportive environment for non-yielding assets," Saxo Bank wrote.Still, the dollar edged higher, with the ICE dollar index last seen up 0.03 points to 99.94. Treasury yields rose, with the U.S. two-year note last seen paying 4.143%, up 0.8 basis points, while the yield on the 10-year note was up 3.5 points to 4.557%.

Gold Falls to the Lowest in More than Six Months as U.S. Inflation Rose Again in May

Gold traded at the lowest in more than six months early on Tuesday as the metal falls out of favor with traders, who are moving to the dollar as a hedge as a report showed U.S. inflation rose again last month, heightening expectations the Federal Reserve will raise interest rates to check rising prices.Gold for July delivery was last seen down US$100.80 per ounce to 4,185.60 per ounce, the lowest since Nov.25.The drop comes as the U.S. Bureau of Labor Statistics reported the May Consumer Price Index (CPI) rose at a 4.2% annualized rate, up from 3.8% in April but matching expectations, according to Marketwatch. Core CPI, excluding volatile food and energy, rose 2.9% annualized, up from 2.8% a month earlier and again matching consensus expectations.The rise in costs has come on higher energy prices as the U.S. war on Iran blocked the Strait of Hormuz, keeping much of the 20% of daily oil exports supplied by Persian Gulf nations off the market. The bureau said rising oil prices accounted for over 60% of the monthly rise in costs.High inflation is raising worries the Federal Reserve will need to boost interest rates to slow demand, bearish for gold since it pays no interest. The CME FedWatch Tool currently expects the central bank's policy committee will leave rates unchanged when it meets next week but the probability of rate hike in September is rising."A slump in precious metals gathered momentum on Tuesday ... as rising US inflation concerns and growing expectations of Federal Reserve rate hikes continued to pressure sentiment. The move is forcing investors with long-held bullish positions to reassess the outlook, particularly as higher inflation and tighter monetary policy create a less supportive environment for non-yielding assets," Saxo Bank wrote.Still, the dollar eased early, with the ICE dollar index last seen down 0.05 points to 99.86. Treasury yields were mixed, with the U.S. two-year note last seen paying 4.129%, down 0.6 basis points, while the yield on the 10-year note was up 0.9 points to 4.531%.

Update: Gold Falls to a Six-Month Low Even as the Dollar Moves Down

(Updates prices.)Gold fell to at a six-month low midafternoon on Tuesday even as the dollar weakened.Gold for July delivery was last seen down US$74.00 to US$4.289.40 per ounce, the lowest since Dec.10.The price of the metal has dropped 7.7% over the past month as investors turn to the dollar to hedge against the threat of higher interest rates as inflation rises due to the high oil prices that have followed the U.S. war on Iran. The war has blocked the Strait of Hormuz and shut in much of the 20% of daily oil demand supplied by Persian Gulf nations."Rising expectations of further US rate hikes, together with higher bond yields and a stronger dollar, continue to create a challenging backdrop for bullion," Saxo Bank wrote.The dollar eased, with the ICE dollar index last seen down 0.15 points to 99.89. Treasury yields also eased, with the U.S. two-year note last seen paying 4.135%, down 3.1 basis points, while the yield on the 10-year note is down 3.4 points to 4.534%.

Gold Steady at a Five-Month Low as the Dollar Moves Lower

Gold was mostly steady at a five-month low early on Tuesday as the dollar weakened.Gold for July delivery was last seen down US$2.00 to US$4.36140 per ounce, the lowest since Jan. 2.The price of the metal has dropped 7.7% over the past month as investors turn to the dollar to hedge against the threat of higher interest rates as inflation rises due to the high oil prices that have followed the U.S. war on Iran. The war has blocked the Strait of Hormuz and shut in much of the 20% of daily oil demand supplied by Persian Gulf nations."Gold stabilised after a two-day slump that saw prices break below key technical support, triggering additional selling from short-term momentum-driven traders. However, rising expectations of further US rate hikes, together with higher bond yields and a stronger dollar, continue to create a challenging backdrop for bullion," Saxo Bank wrote.The dollar eased early, with the ICE dollar index last seen down 0.34 points to 99.71. Treasury yields also eased, with the U.S. two-year note last seen paying 4.151%, down 1.5 basis points, while the yield on the 10-year note is down 1.8 points to 4.55%.

Update: Gold Gives Up All Its Gains This Year as Rising Oil Prices Heighten Inflation Worries

(Updates prices.)Gold fell to a fresh five-month low midafternoon on Monday, falling for a second day as oil prices rose again after Iran and Israel traded strikes on the weekend, heightening concerns central banks will need to raise interest rates to combat the inflation that has followed higher energy costs.Gold for June delivery was last seen down US$5.00 to US$4,360.30 per ounce, the lowest since Jan. 2.The drop comes as Iran on the weekend launched strikes on Israel to deter Israel's occupation of southern Lebanon and end its attacks on Beirut in its war on the Iran-backed Hezbollah militant group. The renewed hostilities are testing the two-month ceasefire between Iran and the United States, as talks between the two countries are stalled due to Iran's insistence Israel first must end its war in Lebanon. The fighting is lowering hopes for a peace deal that would reopen the Strait of Hormuz, freeing up the oil exports from Persian Gulf nations that supplied 20% of daily and boosting inflation.May U.S. consumer price data will be released on Wednesday, with the consensus estimate expecting the Consumer Price Index to rise to 4.2% annualized from a 3.8% pace in April."Gold ... extended Friday's selloff as renewed Israeli strikes on Iran pushed oil prices higher, reigniting inflation concerns. On Friday, an already weakened precious metals market tumbled after a stronger-than-expected US jobs report reinforced expectations that the Federal Reserve may need to hike rates in 2026.," Saxo Bank wrote.The drop comes even as the dollar moved lower, with the ICE dollar index last seen down 0.08 points to 99.99, falling off the highest since March 30. Treasury yields rose, with the yield on the U.S. two-year note last seen up 1.9 basis points to 4.166%, while the 10-year note was paying 4.556%, up 3.4 basis points.

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