Gold prices were sharply lower on Monday while the dollar index advanced as a lack of progress in the U.S.-Iran peace talks sent oil prices soaring and revived inflation fears.
Spot gold fell 1.2 percent to $4,659.22 an ounce while U.S. gold futures were down 1.4 percent at $4,666.80.
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Market Analysis
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.