Gold Slides to $4,064 as US-Iran Strikes Lift Oil and Reignite Rate-Hike Bets; Silver Off 1.9%
On Monday July 13, 2026, this daily precious metals market report opens with gold buckling under a weekend risk-repricing, sliding below $4,100 as fresh U.S. airstrikes on Iran drove oil sharply higher and revived fears of another Federal Reserve rate hike. Gold spot price is trading at $4,063.91 per ounce, down $57.28 (-1.39%) on the day. Silver spot price is trading at $58.72 per ounce, down $1.15 (-1.92%) on the day. The gold/silver ratio widened to roughly 69 as silver’s industrial sensitivity amplified the move, and the gold spot price today sits well off last week’s levels. The catalyst is already in the tape: Brent crude jumped more than 4% toward $79 a barrel and West Texas Intermediate pushed past $74 after the strikes reignited fears over tanker transit through the Strait of Hormuz. Higher energy costs feed directly into the inflation outlook, and traders responded by lifting the odds of a 2026 rate hike and bidding up the dollar—both near-term headwinds for yieldless bullion. Physical desks, by contrast, met the dip with steady coin and bar buying, not liquidation. Markets now position ahead of the June Consumer Price Index, due Tuesday at 8:30 a.m. ET, a print that will shape the July 28–29 FOMC meeting; watch the live gold spot price as that data nears.
