Gold Prices Drop as Dollar Rises Amid Iran Tensions

Gold prices dropped in May 2026 by 0.9% to reach $4,572 per ounce. The decline in Spring 2026 followed Tehran's announcement of targeting a US warship in the region. The escalation in mid-May 2026 led to a rise in the dollar and fears of continued interest rate hikes. US futures fell in 2026 by 1.3% amid sharp geopolitical fluctuations.