Silver and platinum are also losing ground at the start of the week.
Gold prices remain under pressure after a sharp correction this month, but RBC Capital Markets believes the sell-off is creating an attractive longer-term buying opportunity. Gold (XAU/USD) traded near $4,028 on Monday, down almost 11% in June after falling from a monthly high above $4,540.
Gold prices eased lower in the first half of Monday's session, even as the US dollar edge lower. Investors have largely looked through the latest military exchanges involving the US and Iran, especially after the two sides have apparently agreed to end days the fighting around the Strait of Hormuz and resume peace talks.
Gold managed to break above the resistance of 4020-40 last Friday to march towards the first target at 4100. As we see over the chart, prices now face support at 4020-40 which could lead for a further advance towards 4200.
Gold: Central bank flows and real yields – Societe Generale
The ongoing US-Iran ceasefire amid Iran-Israel tensions allowed gold and silver to focus on technical levels. Gold rebounded off $4,049 support while silver traded at $57.97.
The year 2026 has so far been an unforgiving one for gold. XAU/USD is down approximately 7% since the start of the year, and roughly 28% from the late-January peak — a significant correction, though a physiologically natural one following the sustained bullish rally of recent years.
Saudi Arabia Gold price today: Gold falls, according to FXStreet data
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United Arab Emirates Gold price today: Gold falls, according to FXStreet data
Pakistan Gold price today: Gold falls, according to FXStreet data
India Gold price today: Gold falls, according to FXStreet data