Singapore, 13 May 2026 – Gold held its decline as a hotter-than-expected US inflation reading reduced expectations for Federal Reserve rate cuts, while higher oil prices and fading hopes of a US-Iran peace breakthrough added further pressure to bullion.
Spot gold fell 1.2% to US$4,678.49 per ounce on Tuesday, while US gold futures settled 0.9% lower, as investors reassessed the outlook for interest rates and inflation. The decline came after oil prices rose more than 3%, intensifying concerns that energy-driven inflation could keep borrowing costs elevated for longer.
Unlock the Full Article
This article is exclusive to The Ledger Asia Subsribers / PAID members.
Already have an account? Log in here
