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Gold Slips as Rising Oil Prices and Inflation Concerns Temper Safe-Haven Demand
Key takeaways
- By 05:42 ET (09:42 GMT), spot gold had fallen 1.0% to $4,444.86 per ounce, while U.S. gold futures were also down 1.0% at $4,475.62 per ounce.
- Investors continued to monitor developments in the Middle East after reports of fresh military exchanges between the United States and Iran.
- According to Reuters, the U.S. military said Iranian attacks targeting Kuwait, Bahrain and other locations were either intercepted or unsuccessful.
Gold Slips as Rising Oil Prices and Inflation Concerns Temper Safe-Haven Demand Fiona Craig Wed, June 3, 2026 at 6:12 PM GMT+7 3 min read GC=F CL=F gold bars 4 NEW SIZE ©Petr Kratochvil Gold prices moved lower on Wednesday as escalating tensions in the Middle East pushed oil prices higher, reinforcing concerns that inflationary pressures could remain elevated and delay potential interest-rate cuts from major central banks.
By 05:42 ET (09:42 GMT), spot gold had fallen 1.0% to $4,444.86 per ounce, while U.S. gold futures were also down 1.0% at $4,475.62 per ounce.
Investors continued to monitor developments in the Middle East after reports of fresh military exchanges between the United States and Iran.
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