{"id":128741,"date":"2026-06-22T14:10:00","date_gmt":"2026-06-22T10:10:00","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=128741"},"modified":"2026-06-22T15:55:12","modified_gmt":"2026-06-22T11:55:12","slug":"gold-climbs-1-1-as-iran-talks-progress-eases-energy-inflation-fears-dollar-near-13-month-high-caps-the-rally","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/gold-climbs-1-1-as-iran-talks-progress-eases-energy-inflation-fears-dollar-near-13-month-high-caps-the-rally\/06\/22\/market-updates\/","title":{"rendered":"Gold Climbs 1.1% as Iran Talks Progress Eases Energy Inflation Fears: Dollar Near 13-Month High Caps the Rally"},"content":{"rendered":"\n<h1 class=\"wp-block-heading\"><\/h1>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Key Takeaways<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Gold bounces:<\/strong> Spot gold rose 1.1% to $4,205.05 per ounce, while gold futures climbed 1.2% to $4,223.42 \u2014 snapping three straight sessions of losses.<\/li>\n\n\n\n<li><strong>Coming off a tough week:<\/strong> Bullion slipped 1.4% last week following the Fed&#8217;s hawkish signals.<\/li>\n\n\n\n<li><strong>Iran progress supports:<\/strong> FM Araghchi&#8217;s &#8220;major progress&#8221; claim from Switzerland talks eased fears of a prolonged energy supply disruption.<\/li>\n\n\n\n<li><strong>Qatar and Pakistan&#8217;s roadmap:<\/strong> Mediators confirmed negotiators agreed on a path toward a broader agreement; technical talks continue through the week.<\/li>\n\n\n\n<li><strong>Lower oil eases inflation fears:<\/strong> Crude&#8217;s retreat tempered expectations that energy-driven price pressures could force a more aggressive Fed tightening cycle.<\/li>\n\n\n\n<li><strong>Higher-for-longer rates cap upside:<\/strong> Markets continue digesting last week&#8217;s hawkish Fed meeting, keeping gold&#8217;s gains in check.<\/li>\n\n\n\n<li><strong>ING&#8217;s view:<\/strong> &#8220;While geopolitical risks should continue to provide underlying support, a higher-for-longer US rate environment may limit near-term upside.&#8221;<\/li>\n\n\n\n<li><strong>Dollar near 13-month high:<\/strong> The DXY held firm near its strongest level since May 2025, making gold more expensive for overseas buyers.<\/li>\n\n\n\n<li><strong>PCE data ahead:<\/strong> The Fed&#8217;s preferred inflation gauge is due later this week \u2014 a key input for rate path expectations.<\/li>\n\n\n\n<li><strong>Silver surges 2.8%:<\/strong> To $66.70 per ounce \u2014 outperforming gold significantly.<\/li>\n\n\n\n<li><strong>Platinum gains 1.6%:<\/strong> To $1,694.60 per ounce.<\/li>\n\n\n\n<li><strong>Copper edges up:<\/strong> LME copper rose 0.8% to $13,700.33 per ton; U.S. copper futures were flat.<\/li>\n<\/ul>\n\n\n\n<p>Gold prices climbed on Monday as investors monitored developments in U.S.-Iran negotiations in Switzerland and assessed the outlook for U.S. monetary policy following the Federal Reserve&#8217;s hawkish signals last week.<\/p>\n\n\n\n<p>Spot gold rose 1.1% to $4,205.05 an ounce by 02:48 ET (06:48 GMT), while U.S. gold futures climbed 1.2% to $4,223.42.<\/p>\n\n\n\n<p>Bullion slipped 1.4% last week and is coming off three straight sessions of losses.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Iran Talks Progress Eases Energy Inflation Fears<\/h2>\n\n\n\n<p>The precious metal found support as Iranian officials reported progress in talks with the United States, helping ease fears of a prolonged disruption to global energy supplies and weighing on crude oil prices.<\/p>\n\n\n\n<p>Iranian Foreign Minister Abbas Araghchi said &#8220;major progress&#8221; had been made during the quadrilateral talks in Switzerland, while mediators from Qatar and Pakistan said negotiators had agreed on a roadmap toward a broader agreement. Technical discussions are set to continue through the week.<\/p>\n\n\n\n<p>Lower oil prices helped reduce inflation concerns, providing support to bullion by tempering expectations that energy-driven price pressures could force the Federal Reserve into a more aggressive tightening cycle.<\/p>\n\n\n\n<p>Brent crude pared earlier gains on Monday after signs of diplomatic progress emerged, despite ongoing tensions surrounding the Strait of Hormuz.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Dollar Strength and Rate Fears Limit Upside<\/h2>\n\n\n\n<p>Still, gains in gold were limited by expectations that U.S. interest rates could remain elevated.<\/p>\n\n\n\n<p>Markets continue to digest last week&#8217;s Federal Reserve meeting, where policymakers maintained a hawkish bias and kept the possibility of further rate increases on the table amid persistent inflation risks.<\/p>\n\n\n\n<p>&#8220;While geopolitical risks should continue to provide underlying support, a higher-for-longer US rate environment may limit near-term upside,&#8221; ING analysts said in a research note.<\/p>\n\n\n\n<p>The U.S. Dollar Index held firm near a 13-month high hit last week.<\/p>\n\n\n\n<p>Investors are now awaiting a key reading of the U.S. Personal Consumption Expenditures price index later this week for fresh clues on the path of monetary policy.<\/p>\n\n\n\n<p>Among other precious metals, silver prices rose 2.8% to $66.70 per ounce, while platinum gained 1.6% to $1,694.60 per ounce.<\/p>\n\n\n\n<p>Benchmark copper futures on the London Metal Exchange edged up 0.8% to $13,700.33 a ton, while U.S. copper futures traded flat at $6.35 a pound.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Gold bounces: Spot gold rose 1.1% to $4,205.05 per ounce, while gold futures climbed 1.2% to $4,223.42 \u2014 snapping three straight sessions of losses. Coming off a tough week: Bullion slipped 1.4% last week following the Fed&#8217;s hawkish signals. Iran progress supports: FM Araghchi&#8217;s &#8220;major progress&#8221; claim from Switzerland talks eased fears of &hellip;<\/p>\n","protected":false},"author":9,"featured_media":128582,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,6827,49,37,36],"tags":[],"class_list":["post-128741","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-daily-economic-reports","category-economic-reports","category-forex-markets","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/128741","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=128741"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/128741\/revisions"}],"predecessor-version":[{"id":128742,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/128741\/revisions\/128742"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/128582"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=128741"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=128741"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=128741"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}