Gold closes down and hits the year's low with inflationary fears

Gold ended in a sharp fall this Wednesday (10), reaching its lowest value since November 2025 as the new round of attacks between the United States and Iran kept tensions high in the region and left the future of negotiations uncertain.

The market assessed the impacts of the scenario, together with US inflation data, on American monetary policy.

On Comex, the metals division of the New York Stock Exchange (Nymex), gold for August ended down 3.6%, at US$4,133.3 per troy ounce, while silver for July fell 0.8%, to US$64,740 per troy ounce.

Declining since early morning, in the face of American attacks against Iran on Tuesday night (9), gold accelerated its losses in the early afternoon, hitting the lowest since November 2025, at US$4,129.6.

US President Donald Trump said he will attack Iran again this Wednesday, asserting that he has the right to continue the offensive.

Amid uncertainty, however, gold is unable to attract sustained demand for safe-haven assets. In Phillip Nova's assessment, the movement takes place in the face of inflationary concerns, together with a stronger dollar and rising oil prices, which weigh on the asset's sentiment.

From a technical perspective, the broker states that gold's drop below the 200-day moving average represents a bearish move.

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In the same vein, MUFG assesses that the sell-off has led to further selling by investors: "the precious metal is now around 20% below its pre-conflict level, with additional selling pressure emerging after prices fell below important technical support levels."

In the United States, the CPI (consumer price index) advanced in line with expectations, reaching 4.2% year-on-year in May. The numbers did not change the market's expectation for interest rate hikes between October and December this year, as shown by the CME Group's FedWatch tool.

*With information from Dow Jones Newswires.

Source: CNN