Extending Friday's surge, gold prices have soared on Monday following a slump in crude oil prices after the U.S. and Iran announced a deal to end the gulf war and reopen the Strait of Hormuz. The official signing is set to take place on Friday in Switzerland.
Front Month Comex Gold for August month delivery has soared by $113.10 (or 2.67%) to $4,351.90 per troy ounce.
Front Month Comex Silver for August month delivery has surged by $2.221 (or 3.25%) to $70.461 per troy ounce.
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Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.