Gold dipped toward $4,700 an ounce on Tuesday as the U.S. dollar index climbed above 98.00 due to rising geopolitical tensions linked to the Iran conflict.
Spot gold fell 0.7 percent to $4,702.72 an ounce as stalled U.S.-Iran peace talks pointed to a continued closure of the Strait of Hormuz and investors priced out Federal Reserve rate cuts this year. U.S. gold futures were down 0.4 percent at $4,711.25.
For comments and feedback contact: editorial@rttnews.com
Market Analysis
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.