Precious metals retreat slightly in early trading as geopolitical tensions ease but inflation concerns persist.
Gold June futures opened at $4,570.60 per troy ounce, up 0.3% from Monday’s close, before slipping to $4,543.80 by 6:43 a.m. ET. Silver July futures followed a similar pattern, opening at $78.05, 0.8% higher, then falling to $76.35.
The initial gains came after President Trump called off planned airstrikes on Iran, citing ongoing negotiations. Markets reacted cautiously, with Brent crude holding above $110 a barrel and Treasury yields rising, signaling persistent inflation pressures.
Traders remain focused on potential Federal Reserve rate hikes, which could weigh on non-yielding assets like gold and silver.