01.06.2026 08:40
Gold prices started the week with a decline. While the strengthening dollar and rising oil prices put pressure on the precious metal, investors focused on the decision US President Donald Trump will make regarding the extension of the ceasefire with Iran.
Gold prices declined on the first trading day of the week. Pressure on gold increased due to the strengthening dollar and rising oil prices, while geopolitical developments and inflation concerns are being closely monitored in global markets.
DECLINE AFTER A TWO-WEEK HIGH
Spot gold fell 0.2 percent to $4,527.36 per ounce after reaching its highest level in two weeks in the previous trading session. U.S. gold futures traded 0.8 percent lower at $4,558.10.
Experts note that the strengthening dollar makes gold more expensive for investors using other currencies, thereby limiting demand.
EYES ON TRUMP'S DECISION
Market attention has turned to U.S. President Donald Trump's decision on the proposed agreement to extend the ceasefire with Iran. Trump announced on Friday that he would reveal his decision on the matter shortly.
However, diplomatic sources indicate that the parties have yet to reach a common ground on the key issues at the center of the dispute.
TENSIONS IN THE MIDDLE EAST INCREASE UNCERTAINTY
Meanwhile, Israeli Prime Minister Benjamin Netanyahu announced that he has ordered troops to advance further into Lebanon as part of operations against Iran-backed Hezbollah.
Rising tensions in the Middle East support investor interest in gold, seen as a safe haven, while also sustaining uncertainties in global markets.