Gold Holds Near 11-Week Low as Markets Await U.S. CPI

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Gold prices traded near their lowest level in almost 11 weeks on Tuesday, June 9, 2026, as easing tensions between Iran and Israel reduced demand for safe-haven assets, while investors turned their attention to upcoming U.S. inflation data that could influence expectations for Federal Reserve policy.

Spot gold was little changed at around $4,333 per ounce during Asian trading, while U.S. gold futures for August delivery edged slightly lower.

Easing Middle East Tensions Weigh on Gold

Gold remained under pressure after Iran and Israel halted attacks following renewed tensions over the weekend, easing concerns about a broader regional escalation.

The improvement in market sentiment reduced demand for traditional safe-haven assets, including gold, as investors shifted focus toward economic data and monetary policy expectations.

Strong U.S. Labor Data Continues to Support Rate Expectations

The precious metal has faced pressure since the release of stronger-than-expected U.S. employment data last week, which reinforced expectations that the Federal Reserve could maintain higher interest rates for longer.

Markets are currently pricing in a roughly 70% probability of a U.S. interest rate increase by December, supporting the dollar and limiting gains in gold.

Investors Await Key U.S. Inflation Reports

Attention is now focused on upcoming U.S. inflation figures, with Consumer Price Index (CPI) data due on Wednesday and Producer Price Index (PPI) data scheduled for Thursday.

The reports are expected to provide fresh insight into inflation trends and could influence market expectations for future Federal Reserve policy decisions.

Other Metals Post Modest Gains

Elsewhere in the metals market, silver rose to around $68.42 per ounce, while platinum advanced to approximately $1,767.60 per ounce.

Copper prices also moved higher, with both London and U.S. copper futures posting gains during Tuesday's trading session.