Gold Futures Edge Higher to $4,558 on Optimism Over US-Iran Talks

Gold futures for August delivery (GC=F) rose to $4,558.10 per troy ounce as of 8:08 a.m. ET on Tuesday, June 2, 2026, adding 0.9% from the open, as markets reacted to hope for progress in negotiations between the U.S. and Iran. The contract opened at $4,515.80, a 0.2% gain from Monday’s close. Investors are in a holding pattern, viewing the potential reopening of the Strait of Hormuz and a semi-permanent ceasefire as positive catalysts. Over the past five days, gold prices are up 1.28%. The precious metal posted a one-year gain of 95.6% as of Jan. 29, reflecting sustained demand from central banks and diversification seekers.