By Mukesh 
Gold prices touched a near one-week low on Monday (April 13, 2026), pressured by a stronger dollar, while a surge in oil prices following failed U.S.-Iran peace talks fuelled inflation worries and dampened expectations for Federal Reserve interest rate cuts this year.
Spot gold was down 0.4% at $4,726.64 per ounce, as of 06:20 GMT, after hitting its lowest since April 7 earlier in the day at $4,643. U.S. gold futures for June delivery fell 0.8% to $4,748.70.
The dollar strengthened 0.3%, while oil prices bounced back above $100 a barrel, as the U.S. Navy prepared a blockade of the Strait of Hormuz that could restrict Iranian oil shipments, following the U.S. and Iran’s failure to reach a deal to end the war.
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Gold drops as inflation worries linger on failed U.S.-Iran talks
Gold prices decline amid inflation concerns and a stronger dollar following unsuccessful U.S.-Iran peace talks, impacting market expectations.