Gold futures opened lower on Monday as traders waited for cpi data later this week that could show how the months-long war with Iran is feeding inflation concerns. June gold futures started the session at $4,690 per troy ounce, down 0.9% from the previous close, before easing to $4,673.90 by 6:45 a.m. ET.
Silver followed a similar path. July silver futures opened at $80.15 per ounce, also 0.9% below the prior close, then edged up to $81.06 by 6:45 a.m. ET. Oil was back over $103 a barrel on Monday morning, adding another signal that energy markets remain under pressure as investors brace for the price reports.
The move came after President Trump rejected Iran’s latest peace proposal in a Truth Social post yesterday, writing that it was “TOTALLY UNACCEPTABLE!” The price reports due later this week — consumer and producer readings — are expected to give a clearer picture of how the conflict is affecting costs across the economy.
Gold is trading with unusually heavy attention because it moves in both spot and futures markets, and gold futures are exchange-traded contracts that often react quickly to changes in risk appetite and inflation expectations. For now, the market is watching whether the upcoming data confirms that the war is doing more than rattling geopolitics — whether it is starting to show up in the prices people pay.
