Gold Hits 1-Week Low at $4,579 as Brent Tops $106 and US Yields Climb
Updated
Updated · Reuters · May 15
Gold Hits 1-Week Low at $4,579 as Brent Tops $106 and US Yields Climb
4 articles · Updated · Reuters · May 15
Spot gold fell 1.5% to $4,579.19 an ounce by 0631 GMT, its lowest since May 6, extending losses to a fourth straight session and nearly 3% for the week.
Brent crude rose 6.2% this week to above $106 a barrel as the Iran war kept the Strait of Hormuz largely shut, reviving inflation fears and pushing 10-year Treasury yields to their highest since May 2025.
Rate expectations turned sharply against bullion: traders have mostly priced out 2026 Fed cuts and now see a 39% chance of a hike by December, while the dollar has gained more than 1% this week.
Gold has dropped more than 13% since the U.S.-Iran conflict erupted on Feb. 28, showing how war-driven energy inflation and higher yields have outweighed bullion's traditional haven appeal.
As soaring inflation fails to lift gold, is the precious metal's role as a traditional safe-haven asset now broken?
With global oil in crisis, will the Trump-Xi meeting avert a wider economic war over technology and critical minerals?
Is the devastating oil shock from the Iran war the tipping point for a permanent global transition to renewable energy?