Gold Stabilises After Trump Cancels Planned Strike on Iran

By News Desk on May 19, 2026

Singapore: Gold prices held largely steady today as investors monitored developments in the Middle East following US President Donald Trump’s decision to cancel a planned strike on Iran.

Spot gold edged down 0.1 percent to $4,560.39 per ounce, after touching its lowest level since 30 March 2026 during the previous session. US gold futures for June delivery rose 0.1 percent to $4,563.50 per ounce.

Oil prices fell by more than two percent, easing concerns over inflationary pressures.

Gold is traditionally regarded as a hedge against inflation, though higher interest rates generally reduce the appeal of the non-yielding metal.

Among other precious metals, spot silver fell 1.3 percent to $76.63 per ounce, platinum declined 0.5 percent to $1,969.84 per ounce, while palladium dropped 1.2 percent to $1,401.74 per ounce.

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