Gold and other precious metals pared big losses in choppy trading conditions after data showed a fast rise in overall US consumer prices, but a more subdued gain in core inflation.
A gold bar at the Royal Canadian Mint in Ottawa, Ontario, Canada, on Monday, May 11, 2026. A strong run-up in gold prices has driven a surge in Canadian exports of precious metals, which rose by 70% between December 2024 and March 2026, according to customs-based data. Photographer: David Kawai/Bloomberg
Gold fell to a two-month low as clashes between the US and Iran risked derailing peace talks and kept inflation risks high, while a stronger dollar also weighed on the precious metal.
A one kilogram gold bar displayed at an ABC Bullion store in Sydney, Australia, on Tuesday, Oct. 21, 2025. Gold held near a record high, finding support despite optimism global trade tensions are easing and hopes the US government will reopen soon. Photographer: Brendon Thorne/Bloomberg
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