Gold prices fell toward $4,700 an ounce on Monday as the dollar strengthened, global bond yields surged and oil prices jumped back above $100 a barrel, following the breakdown of U.S.-Iran peace talks over the weekend in Islamabad.
Spot gold fell 0.7 percent to $4,717 an ounce while U.S. gold futures for June delivery were down nearly 1 percent at $4,743.12.
After peace talks failed amid unresolved disputes over Iran's nuclear program, U.S. President Donald Trump ordered blocking all ships trying to enter or leave the Strait of Hormuz, heightening fears of a prolonged conflict and disruptions to key energy supplies from the Persian Gulf region.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.