--- title: "Gold slips as US-Iran tensions lift oil, stoke inflation fears" type: "News" locale: "en" url: "https://longbridge.com/en/news/287590433.md" description: "Gold prices fell by 0.9% to $4,529.50 per ounce as U.S. attacks in Iran raised oil prices, heightening inflation concerns and expectations of prolonged high interest rates. Brent crude futures increased by 2%, while markets anticipate a 56% chance of a U.S. Federal Reserve rate hike by December. Other precious metals also saw declines, with silver down 2.1% and platinum down 1%. The geopolitical tensions are impacting oil production and market stability." datetime: "2026-05-26T06:04:18.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/287590433.md) - [en](https://longbridge.com/en/news/287590433.md) - [zh-HK](https://longbridge.com/zh-HK/news/287590433.md) generator: "portal-rs" --- # Gold slips as US-Iran tensions lift oil, stoke inflation fears By Pablo Sinha May 26 (Reuters) - Gold fell on Tuesday as fresh U.S. attacks in Iran pushed oil prices higher, fuelling ‌concerns around inflation and higher-for-longer interest rates. Spot gold was down ‌0.9% at $4,529.50 per ounce, as of 0545 GMT. U.S. gold futures for June delivery gained ​0.2% to $4,529.60. U.S. Secretary of State Marco Rubio said negotiating a deal with Iran could "take a few days," quashing hopes for an imminent end to the conflict a day after U.S. forces conducted what Washington called defensive ‌strikes in southern Iran. "Even ⁠though we have a peace deal that is being done and dusted between the U.S. and Iran, the ⁠damage that has been done to Middle East oil production facilities could actually prevent a rapid normalisation of oil flows flowing into the rest of ​the ​world from the Middle East," said ​Kelvin Wong, a senior market ‌analyst at OANDA. "The market has started to price in this situation, showing very high odds of an interest rate hike to come in this year." Brent crude futures rose 2% in Asian trade on Tuesday, as a deal to end the war and open up the Strait of ‌Hormuz remained elusive. \[O/R\] Elevated crude oil prices can ​fuel inflation and keep interest rates ​higher for longer. While gold ​is seen as a hedge against inflation, higher rates ‌tend to weigh on the non-yielding ​metal. Markets are pricing ​in a U.S. Federal Reserve rate hike before year-end, with a 56% chance of a move by December, according to CME ​Group's FedWatch tool. \[FEDWATCH\] Spot silver ‌fell 2.1% to $76.45 per ounce, platinum lost 1% to $1,948.12, and ​palladium slid 1.4% to $1,378.89. (Reporting by Pablo Sinha in Bengaluru; Editing ​by Subhranshu Sahu and Rashmi Aich) ### Related Stocks - [AEM.US](https://longbridge.com/en/quote/AEM.US.md) - [KGC.US](https://longbridge.com/en/quote/KGC.US.md) - [NEM.US](https://longbridge.com/en/quote/NEM.US.md) - [GOAU.US](https://longbridge.com/en/quote/GOAU.US.md) - [GOEX.US](https://longbridge.com/en/quote/GOEX.US.md) - [GLD.US](https://longbridge.com/en/quote/GLD.US.md) - [SGDJ.US](https://longbridge.com/en/quote/SGDJ.US.md) - [GDXJ.US](https://longbridge.com/en/quote/GDXJ.US.md) - [DBP.US](https://longbridge.com/en/quote/DBP.US.md) - [GBUG.US](https://longbridge.com/en/quote/GBUG.US.md) - [SGDM.US](https://longbridge.com/en/quote/SGDM.US.md) - [GLTR.US](https://longbridge.com/en/quote/GLTR.US.md) - [GDXU.US](https://longbridge.com/en/quote/GDXU.US.md) - [GDXW.US](https://longbridge.com/en/quote/GDXW.US.md) - [UGL.US](https://longbridge.com/en/quote/UGL.US.md) - [IAU.US](https://longbridge.com/en/quote/IAU.US.md) - [SGOL.US](https://longbridge.com/en/quote/SGOL.US.md) - [GDXY.US](https://longbridge.com/en/quote/GDXY.US.md) - [NUGT.US](https://longbridge.com/en/quote/NUGT.US.md) - [SIVR.US](https://longbridge.com/en/quote/SIVR.US.md) - [GLDM.US](https://longbridge.com/en/quote/GLDM.US.md) - [GDX.US](https://longbridge.com/en/quote/GDX.US.md) - [RING.US](https://longbridge.com/en/quote/RING.US.md) - [JNUG.US](https://longbridge.com/en/quote/JNUG.US.md) - [SLV.US](https://longbridge.com/en/quote/SLV.US.md) - [CME.US](https://longbridge.com/en/quote/CME.US.md) ## Related News & Research - [PRECIOUS-Gold prices dip as oil-driven inflation concerns weigh](https://longbridge.com/en/news/298853319.md) - [PRECIOUS-Gold gains on softer oil; US inflation data in focus](https://longbridge.com/en/news/298724860.md) - [PRECIOUS-Gold rises as dollar eases; US inflation data on radar](https://longbridge.com/en/news/298242637.md) - [PRECIOUS-Gold climbs on dip buying, Fed hike bets rise after US inflation data](https://longbridge.com/en/news/298740530.md) - [Agnico Eagle Sells Delta and Helm Bay Projects, Takes Strategic Stake in Vizsla Copper](https://longbridge.com/en/news/298494760.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**