Gold Falls as U.S.-Iran Ceasefire Breaks Down

Gold slipped Monday as the dollar strengthened, unwinding last week's relief rally after the U.S.-Iran ceasefire showed signs of breaking down. Ilya Spivak, head of global macro at Tastylive, attributed the price decline directly to renewed geopolitical tension eroding the safe-haven bid that had briefly lifted bullion. A stronger dollar compounds the pressure, as dollar-denominated commodities become more expensive for foreign buyers, mechanically suppressing demand. Traders will be watching whether the ceasefire deteriorates further, which could reverse the dollar dynamic and push safe-haven flows back into gold, or stabilizes, keeping the metal under pressure.