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Gold prices fell on Tuesday as investors waited to see whether the U.S. and Iran would consider
attending peace talks after renewed tensions over the weekend,
while a marginally firmer dollar added to the pressure.
Spot gold was down 0.7% at $4,784.37 per ounce, as of
0615 GMT, extending its fall from Monday when it hit its lowest
level since April 13. U.S. gold futures for June
delivery fell 0.5% to $4,803.50.
The U.S. dollar edged up on Tuesday, making
greenback-denominated commodities more expensive for holders of
other currencies.
Iran is considering attending peace talks with the United
States in Pakistan, a senior Iranian official told Reuters on
Monday, following moves by Islamabad to end a U.S. blockade of
Iran’s ports, a significant obstacle to Tehran rejoining peace
efforts as the end of a two-week ceasefire approaches.
Investors are awaiting “the next headline regarding whether
the talks are going to go ahead in Islamabad and then if they
do, whether the ceasefire is extended or even better, a peace
deal is reached,” said Kyle Rodda, senior financial market
analyst at Capital.com.
“If those things happen, gold will probably be well
supported because oil prices will drop. If those things don’t
come about, you might start to see some of that volatility come
back into the market,” Rodda said.
Investors also await a Senate confirmation hearing later for
Kevin Warsh, U.S. President Donald Trump’s nominee to lead the
Federal Reserve. Warsh is set to tell lawmakers that he is
“committed to ensuring that the conduct of monetary policy
remains strictly independent.”
Meanwhile, oil prices fell on expectations that the peace
talks will take place this week and allow more supply to flow
from the key Middle East producing region.
Higher crude prices can stoke inflation by raising
transportation and production costs. While gold is considered an
inflation hedge, high interest rates make yield-bearing assets
more attractive, weighing on its appeal.
Among other metals, spot silver fell 1.4% to $78.80
per ounce, platinum lost 0.8% to $2,072.22, and palladium
was down 0.3% at $1,547.25.
Published on April 21, 2026
