Gold futures gapped higher on the open Monday after President Trump announced at a press conference ahead of the G7 summit that a peace deal with Iran had been finalized. "The deal's all signed," Trump told reporters, adding that the Strait of Hormuz would be fully open by Friday.

Gold endured another punishing week, with August futures falling $114, or 2.62%, to mark their second consecutive weekly loss and close Friday near $4,200 per ounce.

Gold futures opened Thursday’s session in a state of near-complete inertia. For the first eight hours of trading, price action was essentially flat, printing two consecutive doji candles on the 4-hour chart — a classic sign of indecision in which neither bulls nor bears were willing to commit.

Gold suffered its sharpest single-day decline in months on Wednesday, shedding more than 3% as the deepening confrontation between the United States and Iran reframed the conflict not as a safe-haven event, but as an inflation shock that could force the Federal Reserve back into tightening mode.

Gold is trading near $4,300 per ounce Tuesday, coiled ahead of what may be the most consequential near-term data release of the year: Wednesday’s May consumer price index.

Gold futures opened Monday's session right where Friday's selloff left them and went largely nowhere, closing essentially unchanged as traders paused to digest last week's blowout jobs report and weighed what comes next in a calendar filled with market-moving events.

Gold posted its steepest single-session decline since March on Friday, as a far-stronger-than-expected U.S. employment report all but extinguished hopes for a near-term Federal Reserve rate cut and sent the dollar surging back above a key threshold.

Gold posted a $40 advance on Thursday, June 4, climbing from Wednesday’s close near $4,465 to trade above $4,507 per troy ounce by mid-morning, its best single-session gain in weeks while silver’s $1.15 gain did not alter its downward trend taking it to approximately $73.25.

Spot gold (XAU/USD) entered the week under pressure, trading near $4,370–$4,400 per troy ounce following a sharp decline in late May. A renewed US/Iran confrontation on May 28 pushed prices down to an intraweek low of approximately $4,380, marking a fresh test of key support.

Gold has been one of the defining asset stories of this decade. After crossing $5,000 per troy ounce for the first time in history earlier this year, the metal has since consolidated near $4,494, a level that, in any prior era, would itself have been a record.