Gold prices fall 2% amid airstrikes near Strait of Hormuz

Gold prices have fallen on Monday, July 13, 2026, following weekend airstrikes near the Strait of Hormuz. The metal is priced between $4,060 and $4,079 per ounce, down approximately 2% from the previous session. Market participants suggest that a strengthening U.S. dollar and rising Brent crude prices, which have fueled inflationary concerns, have diminished gold’s appeal as a safe-haven asset. This decline reverses the initial price surge seen at the onset of the U.S.-Iran conflict in late February, with gold now about one-fifth below its pre-war peak.

Key Takeaways

• Market behavior suggests that gold’s current levels are consistent with reduced confidence in its safe-haven status amid geopolitical tensions.
• Pricing in prediction markets implies a decreased likelihood of gold reaching $4,600 in July, as indicated by recent airstrikes and economic factors.
• The strengthening U.S. dollar and rising crude prices appear to contribute to the downward pressure on gold prices.

What to Watch

Future developments in the U.S.-Iran situation and their impact on global economic conditions remain pivotal. Any escalation in the Middle East could potentially renew interest in gold as a safe haven, altering current price trajectories. Additionally, monetary policy indicators from the Federal Reserve and changes in central bank gold reserves could further influence market sentiment and pricing.