Gold Prices Fall on Monday Morning Following US-Iran Military Exchange in the Persian Gulf
Gold prices declined during Monday morning trading (June 29) after renewed military tensions between the United States and Iran in the Persian Gulf unsettled global financial markets.
According to Bloomberg, as of 07:23 WIB, August 2026 gold futures on the Commodity Exchange were trading at US$4,074.20 per troy ounce, down 0.54% from last weekend's closing price of US$4,096.30 per troy ounce.
The decline came after the United States and Iran exchanged military strikes in the Persian Gulf, raising concerns over regional stability and temporarily overshadowing the ceasefire that had previously helped energy prices retreat to pre-conflict levels.
However, according to an Axios report, both Washington and Tehran have since agreed to halt further attacks and resume diplomatic negotiations in Doha on Tuesday, offering renewed hopes for de-escalation in the Middle East.
The latest geopolitical developments followed the release of U.S. inflation data, which remained elevated but largely met market expectations, reducing the likelihood of immediate surprises from the Federal Reserve.
Despite ongoing geopolitical uncertainty, gold prices have fallen by approximately 23% since the United States and Israel launched military operations against Iran in late February, reflecting changing investor sentiment and shifting market expectations.