Gold slips as dollar firms amid renewed US-Iran tensions
Spot gold dropped 0.4 percent as a firmer dollar and Middle East instability weighed on the market. Investors remain cautious as ceasefire talks appear at risk.
Gold prices edged lower on Monday as the United States dollar strengthened following renewed geopolitical friction with Iran. The closure of the Strait of Hormuz has once again disrupted global shipping, driving energy costs higher and reigniting concerns over persistent inflation.
Spot gold declined 0.4% to $4,809.71 per ounce by early Monday morning, marking its lowest valuation since April 13. Meanwhile, U.S. gold futures for June delivery dropped 1% to reach $4,829.40. The market reaction follows the apparent collapse of a ceasefire agreement that had previously buoyed investor sentiment.
