Gold slips on inflation worries and stalled U.S.-Iran peace talks
Gold prices slipped on Monday as worries about rising inflation and stalled U.S.-Iran peace talks took center stage.
Spot gold fell 0.6% to $4,684.32 per ounce, with US gold futures down 0.8%.
A stronger US dollar made things pricier for buyers outside the US.
Higher rates reduce gold demand
Tensions between the US and Iran are dragging on, especially after President Trump rejected Iran's latest peace response.
The conflict has squeezed oil supplies by disrupting the Strait of Hormuz, a major shipping route, pushing energy prices up and fueling inflation fears.
Higher interest rates make gold less attractive since it doesn't pay interest, so investors are now watching key inflation data for clues on what's next from the Fed.
Meanwhile, China's gold production also dipped in the first quarter of 2026 due to safety shutdowns at smelters.