Gold Rebounds as Lower Oil Prices Ease Inflation Fears

Spot gold rises 0.6% as U.S.-Iran peace talks raise hopes of reduced supply risks

Apr. 14, 2026 at 3:25am

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Gold prices rebounded on Tuesday, rising 0.6% to $4,768.19 per ounce, as oil prices fell below $100 a barrel on signs of potential U.S.-Iran dialogue to end their war. The drop in oil prices eased inflation concerns, boosting the appeal of the non-yielding metal. The U.S. dollar also hovered near its lowest level in over a month, making gold more affordable for holders of other currencies.

Why it matters

Gold is seen as a hedge against inflation, and higher oil prices can feed into overall inflation by raising transportation and production costs. The potential for a deal between the U.S. and Iran to end the war and reopen the Strait of Hormuz could ease supply risks and further dampen inflation fears, supporting gold prices.

The details

Spot gold rose 0.6% to $4,768.19 per ounce, after hitting a near one-week low the previous day. U.S. gold futures for June delivery also gained 0.5% to $4,790.70. Oil prices fell below $100 a barrel as signs of potential U.S.-Iran dialogue eased concerns about supply risks from the U.S. blockade of the Strait of Hormuz. Higher crude prices typically boost gold's appeal as an inflation hedge, but elevated interest rates weigh on the non-yielding metal's demand.

  • On April 14, 2026, spot gold rose 0.6% to $4,768.19 per ounce.
  • On April 13, 2026, gold hit its lowest level since April 7.

The players

Ilya Spivak

Head of global macro at Tastylive.

JD Vance

U.S. Vice President.

Donald Trump

President of the United States.

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What they’re saying

“Markets appear to think that there's still time for a deal between the United States and Iran.”

— Ilya Spivak, Head of global macro at Tastylive

“The U.S. expected Iran would make progress on opening the Strait of Hormuz.”

— JD Vance, U.S. Vice President

“The U.S. military began a blockade of Iran's ports on Monday.”

— Donald Trump

What’s next

Negotiations between Washington and Tehran are still ongoing, and the outcome of these talks could have a significant impact on oil prices and, in turn, gold prices. Investors will be closely watching for any developments in the U.S.-Iran dialogue.

The takeaway

The drop in oil prices, driven by hopes of a potential U.S.-Iran peace deal, has eased inflation concerns and boosted the appeal of gold as a hedge. However, the metal's demand could still be weighed down by elevated interest rates. The direction of gold prices will largely depend on the progress of the U.S.-Iran negotiations and their impact on the broader macroeconomic environment.