June 1, 2026
The price of gold fell at the start of trading in Europe, slipping below the $4,500 mark. The precious metal came under pressure after optimism waned over the weekend regarding negotiations between the U.S. and Iran aimed at ending the conflict and reopening the Strait of Hormuz.
As a result, energy prices rebounded, with Brent crude oil gaining 3% from Friday’s closing price. This development has reignited inflation concerns and reinforced expectations that the Federal Reserve will maintain its hawkish stance. This has strengthened demand for the U.S. dollar and created headwinds for gold prices due to the inverse correlation between the two assets.
Against this backdrop, markets will remain focused on the ongoing talks between the U.S. and Iran, which, alongside the release of key U.S. economic data, are expected to remain a major driver of price movements. This week will see the release of the PMIs for the manufacturing and services sectors, as well as the highly anticipated Non-Farm Payrolls report on Friday.
Any surprises in these data releases could recalibrate expectations regarding the future course of the Federal Reserve’s monetary policy, thereby influencing demand for the U.S. dollar and, consequently, the movement of gold prices.
Source：https://goldinvest.de/en/gold-prices-in-the-spotlight-iran-talks-and-u-s-data-are-driving-the-market
