Spot Gold Price: $4,327.96 per ounce at 16:34 ET (20:34 GMT), marginally lower than the previous close.
Gold Futures: Down 0.3% to $4,351.50 per ounce.
U.S. Dollar: Reported as US Dollar +0.02% (indicating a slight weakening against other currencies in the article’s narrative).
Oil Prices: Brent Crude (LCO) down 0.04% after the cease‑fire announcement.
Rate‑Hike Expectations: Strengthened after a “blowout” May U.S. jobs report that showed total non‑farm payroll growth far exceeding expectations, suggesting the Fed may raise rates later in the year.
Inflation Data Ahead: U.S. Consumer Price Index (CPI) and Producer Price Index (PPI) releases scheduled for Wednesday and Thursday, respectively, could further affect rate‑hike bets and gold’s direction.
Middle‑East Developments: Iran and Israel exchanged strikes over the weekend; Israel struck Beirut, Iran retaliated, then both sides announced a halt to hostilities. President Donald Trump called for an immediate ceasefire on Truth Social, and Israeli Prime Minister Benjamin Netanyahu said Israel would pause attacks “for now.”
Analyst Commentary: David Morrison, senior market analyst at Trade Nation, noted that while gold is a hedge against inflation, higher‑interest‑rate expectations and a strong dollar continue to weigh on the metal.
