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#TrumpDelaysIranStrike
Gold Prices Weaken After Trump Delays Attack on Iran
Gold Prices Weaken After Trump Delays Attack on Iran
Gold Focus:
Easing US-Iran geopolitical tensions pressure oil prices and reduce safe haven demand
Surge in US inflation strengthens expectations of high interest rates from The Fed
Tuesday, May 19, 2026 – Gold prices opened weaker at $4,570 per troy ounce amid a combination of rising US inflation sentiment and easing geopolitical tensions in the Middle East. The market responded to US President Donald Trump’s decision to postpone plans for an attack on Iran to open new negotiation space with Tehran regarding the US-Israel-Iran conflict. This move pushed crude oil prices down by more than 2% during Asian trading. The decline in energy prices helps ease global inflation concerns while reducing demand for safe haven assets like gold.
On the other hand, pressure on gold still comes from rising expectations of high interest rates after US April 2026 annual inflation rose to 3.8% year-over-year from 3.3% year-over-year in March. This condition reinforces market views that the Federal Reserve may keep interest rates high longer, even limiting room for rate cuts in the near future. The leadership change at The Fed is also a concern for investors, as Kevin Warsh is scheduled to be officially inaugurated as Federal Reserve Chair next Friday. Market participants see the central bank’s leadership transition amid high inflation pressures could increase volatility in the global financial markets, including gold movements.
Although the weakening US dollar temporarily supported gold prices by making the precious metal cheaper for holders of other currencies, overall market sentiment remains cautious. Investors are now awaiting several upcoming US economic data releases, including retail sales figures and manufacturing activity surveys to gauge the resilience of the US economy amid inflation pressures and high energy prices.
Technically, the nearest support level for gold prices is around $4,503 to $4,439, while the nearest resistance is at $4,607 to $4,647. If selling pressure increases, deeper support is seen at $4,335, while medium-term resistance is in the $4,751 area.