Singapore, 2 June 2026 – Gold remained under pressure as traders digested mixed signals around US-Iran talks, with renewed Middle East tensions lifting the dollar and oil prices while reviving concerns that inflation could keep interest rates higher for longer.
Spot gold fell around 1% to about US$4,489 per ounce on Monday, while US gold futures also declined, reflecting a market that is struggling to balance geopolitical uncertainty against the rising cost of holding non-yielding assets. The metal had recently rebounded on hopes that diplomatic efforts could reduce tensions, but those gains faded as the outlook for negotiations became less clear.
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