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Gold prices fall due to inflation concerns and failed US-Iran negotiations
As global inflation worries intensify following the failure of US(US) and Iran peace talks, international gold prices softened early this week.
This situation drove the US dollar higher and oil prices soared, ultimately dampening the Federal Reserve's prospects for rate cuts this year.
In trading on Monday(13/4/2026), spot gold prices fell 0.7% to $4,716.70 per ounce, hitting the lowest since April 7.
Meanwhile, the June-delivered US gold futures contract also declined 1% to $4,738.90 per ounce. During the same period, the dollar rose 0.4%, making dollar-denominated gold more expensive for global investors.
Oil prices once again broke above $1 per barrel, adding further pressure on gold. This rally was triggered by escalating tensions in the Middle East, following the failure of US and Iran to reach an agreement to end the conflict.
Reports indicate that the US is even preparing to impose a blockade in the Strait of Hormuz to restrict Iran's oil exports.