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2026-05-26 09:37:15
[US-Iran Conflict Pushes Up Oil Prices, Gold Price Falls Over $30] 1. Gold prices fell on Tuesday, with spot gold dropping as much as 0.7% to below $4540. As of 09:35, it touched a low of $4537.22 per ounce, down more than $30 from Monday's closing price, as a new round of US military strikes against Iran pushed up oil prices and exacerbated market concerns about persistently high inflation and interest rates. 2. Although Iranian negotiators have traveled to Doha to meet with the US on ending the war, the US has still carried out defensive strikes on southern Iran, including mine-laying boats and missile sites. Brent crude oil rose more than 2% in early Asian trading. 3. The CME Group's FedWatch tool shows that the market expects the probability of a Fed rate hike before December to rise slightly to 54%, compared to about 48% at Monday's close. 4. Amid high geopolitical tensions, diplomatic contacts continue. Iran's chief negotiator and foreign minister have arrived in Doha to meet with the Qatari prime minister on a potential agreement with the US to end the war. Both sides stated that progress had been made on a memorandum of understanding giving negotiators 60 days to finalize a deal. Reports indicate that, under possible agreement terms, Iran would clear mines from the Strait of Hormuz within 30 days and cease collecting tolls.
