US-Iran Clash Sparks Rate-Hike Fears; Spot Gold Plunges $58 on Monday
Date:2026-07-13View:6Tags:Welded steel pipe supplier,Sprial steel pipe,Seamless steel pipe manufacturer
Triggered by a sudden escalation in the US-Iran conflict over the weekend, the international gold market faced a massive sell-off during Monday's Asian trading session (July 13). Spot gold prices plummeted by more than $58—a drop of 1.4% for the day—breaching the $4,100 and $4,080 psychological levels and hitting a low near $4,060 per ounce; this single-day decline effectively wiped out the modest gains recorded over the entire previous week.
As the Strait of Hormuz facilitates the transport of approximately one-fifth of global oil consumption, the conflict drove a sharp surge in international oil prices. Brent crude rose about 3.3% on Monday to around $78.50 per barrel. For gold traders, the spike in energy prices heightened inflation expectations, thereby reinforcing market bets that the Federal Reserve would maintain high interest rates for longer or even implement further hikes. Since gold is a non-interest-bearing asset, higher borrowing costs directly diminish its appeal relative to yield-generating assets like bonds.
