Gold slumps below $4,700 on Trump rejection of Iran peace proposal

Mitrade
Trending Articles
coverImg
Source: DepositPhotos
  • Gold price slumps to near $4,690 in Monday’s early Asian session.

  • Trump rejected Iran’s latest proposal to end the conflict as “totally unacceptable.”

  • US Nonfarm Payrolls rise by 115K in April, stronger than expected.

Gold price (XAU/USD) falls to around $4,690 during the early Asian session on Monday. The precious metal attracts some sellers after US President Donald Trump rejected Iran’s latest peace offer to end the 10-week conflict choking the Strait of Hormuz, fanning inflation fears. 

Trump and Iran rejected each other’s peace proposals to end the war as the two sides struggle to maintain a fragile ceasefire, per Bloomberg. US President labeled Iran’s response to his proposal to end the conflict as “totally unacceptable.” Meanwhile, Iranian officials insisted the US needs to pay compensation for war damages, adding that Tehran will reject the US plan that would have forced the country to submit to Trump’s excessive demands.  

The ongoing conflict between the US and Iran may keep inflation risk elevated, as well as the expectation for higher interest rates, which weigh on non-yielding bullion. It’s worth noting that Gold is often used amid geopolitical uncertainty but does not yield interest, making it less attractive when interest rates are high.

US Nonfarm Payrolls (NFP) beat expectations, though the plodding US labor market sent up several flags for a potential slowdown this year. The US economy added 115K jobs in April, versus the 185K increase (revised from 178K) in March, according to the Bureau of Labor Statistics on Friday. This figure surpassed the estimations of 62K by a wide margin. Meanwhile, the Unemployment Rate held at 4.3% in April, in line with the market consensus.

* The content presented above, whether from a third party or not, is considered as general advice only.  This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.

goTop
quote
Related Articles
placeholder
Gold declines below $4,500 on stalled US-Iran ceasefire talks, US NFP data loomsGold price (XAU/USD) edges lower to near $4,470 during the early Asian session on Friday. The precious metal remains volatile amid ongoing geopolitical turmoil. Traders will closely monitor the developments surrounding the US-Iran peace deal and the US May employment report later on Friday. 
Author  FXStreet
Jun 05, Fri
Gold price (XAU/USD) edges lower to near $4,470 during the early Asian session on Friday. The precious metal remains volatile amid ongoing geopolitical turmoil. Traders will closely monitor the developments surrounding the US-Iran peace deal and the US May employment report later on Friday. 
placeholder
Gold declines below $4,500 as Iran tensions stoke inflation fears and bolster Fed hike betsGold price (XAU/USD) declines to around $4,485 during the early Asian session on Tuesday. The precious metal loses ground as renewed tensions in the Middle East continue to fuel concerns over inflation and expectations of elevated interest rates.
Author  FXStreet
Jun 02, Tue
Gold price (XAU/USD) declines to around $4,485 during the early Asian session on Tuesday. The precious metal loses ground as renewed tensions in the Middle East continue to fuel concerns over inflation and expectations of elevated interest rates.
placeholder
Gold Falls Below $4,400 for First Time in Two Months. Institutions Lower Gold Price Forecasts as Market Expects PCE to Approach 4% During the Asian trading session on May 28, spot gold briefly fell below $4,400, hitting a low of $4,396.91, its lowest level since March 27. Gold futures also declined, with U.S. gold fu
Author  TradingKey
May 28, Thu
During the Asian trading session on May 28, spot gold briefly fell below $4,400, hitting a low of $4,396.91, its lowest level since March 27. Gold futures also declined, with U.S. gold fu
placeholder
Iran-U.S. MOU Details Disclosed. Gold Drops to $4,400 Mark Hitting New Low Since March 30; Two Major Crude Oil Futures WeakenAccording to Iranian sources, a "preliminary informal document" regarding the framework of a memorandum of understanding between Iran and the United States has been disclosed, covering is
Author  TradingKey
May 28, Thu
According to Iranian sources, a "preliminary informal document" regarding the framework of a memorandum of understanding between Iran and the United States has been disclosed, covering is
placeholder
Gold flatlines near $4,450 on US-Iran uncertainties, US PCE inflation data loomsGold price (XAU/USD) trades on a flat note around $4,455 during the early Asian session on Thursday. The precious metal steadies as US-Iran peace negotiations face uncertainties.
Author  FXStreet
May 28, Thu
Gold price (XAU/USD) trades on a flat note around $4,455 during the early Asian session on Thursday. The precious metal steadies as US-Iran peace negotiations face uncertainties.
Live Quotes
Name / SymbolChart% Change / Price
XAUUSD
XAUUSD
0.00%0.00
XAGUSD
XAGUSD
0.00%0.00

Gold Related Articles

  • What is Gold CFD? How to Trade Gold CFD With Mitrade Example
  • 3 Best Day Trading Platforms for Beginners and Pro Traders in 2026: A Practical Guide
  • ​5 Best Paper Trading Platforms for 2026 (Free Demo Accounts for Beginners & Traders)
  • XAU/USD Gold Price Trend Analysis 2026: Will It Keep Rising?
  • Is Mitrade Right for You? A Complete Guide on How to Start Trading CFDs in 5 Steps
  • How and Where to Buy Gold in Australia? A Complete Guide for Beginners

Click to view more