Precious metals retreat slightly in early trading as geopolitical tensions ease but inflation concerns persist.
Gold and silver futures opened higher Tuesday but slipped in early trading after President Trump canceled planned strikes on Iran. Gold June futures fell to $4,543.80 per ounce by 6:43 a.m. ET, down from an opening of $4,570.60. Silver July futures dropped to $76.35 from $78.05 in the same period.
Prices had risen modestly at open, with gold up 0.3% and silver up 0.8% from Monday’s close. The pullback follows Trump’s announcement that negotiations with Iran are underway, reducing immediate conflict risks.
Despite the relief, Brent crude remains above $110 a barrel, and rising Treasury yields signal persistent inflation pressures, keeping rate hike expectations alive.