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CommoditiesMedium•29 June 2026•

1 min read

Gold Falls Despite US-Iran Tensions, Heads for Fourth Monthly Decline

Key Facts

1Spot gold fell 0.7% to $4,061.35 an ounce in early trade on Monday.

2The metal is on course for a fourth monthly decline with losses of more than 10% in June.

3US-Iran tension pushed oil higher, reviving inflation worries.

In a notable shift, gold is declining despite escalating US-Iran geopolitical tensions, as the precious metal fell 0.7% to $4,061.35 an ounce in early trade on Monday, according to reports. The metal is on track for a fourth straight monthly decline, with losses exceeding 10% in June, creating a paradox for a traditional safe haven.

Meanwhile, geopolitical tensions pushed oil prices higher, reinforcing inflation fears and undermining gold's appeal as a hedge. Traders worry that elevated energy costs could keep inflation sticky, reducing the likelihood of Federal Reserve rate cuts that typically support bullion.

As of the June 26 close, no updated gold price was available in the database, but traders are watching upcoming Fed policy signals and inflation data to gauge the metal's path. With no explicit catalysts on the near-term economic calendar, focus remains on central bank speeches and the dollar's movement.