Silver Rises Over 120% YTD 
Gold Slides to $4,130 as Iran War Turns Inflation Against It
War is supposed to lift gold. This war is different. The Iran conflict is driving oil up, stoking inflation, and forcing the Fed toward rate hikes — the one thing gold cannot afford.
Gold Price Outlook June 2026: What CPI and the Fed Mean
Gold is at ~$4,165 — 25% below its all-time high. May CPI confirmed at 4.2%. With Warsh’s first FOMC on June 16–17, here’s what the data means for precious metals investors.
May CPI Printed 4.2%. Core Inflation Beat. So Why Did the Gold Price Drop?
May CPI came in at 4.2% — the fastest pace since early 2023 — and the gold price fell nearly $100 to 11-week lows. But the headline is almost entirely an energy story: gasoline is up 40.5% year-over-year while core CPI rose just 0.2% for the month, below forecast and down sharply from April. The market sold gold on a number it was already expecting. The data behind that number tells a different story.
