Gold, silver futures fall as Iran talks stall and inflation concerns lift oil, dollar

Gold and silver futures headed for weekly losses on May 15, 2026, as stalled Iran peace talks kept inflation concerns elevated and pushed investors to price in a possible Federal Reserve rate increase later in 2026. June gold futures (GC=F) opened at $4,654.50 per troy ounce, down 0.7% from Thursday’s close of $4,685.30, and fell to $4,555.50 by 6:48 a.m. ET. July silver futures (SI=F) opened at $77.41 per ounce, down 9.3% from Thursday’s close of $85.32, before rising to $78.71. Reports from President Donald Trump’s China summit indicated business progress between the two countries but no breakthrough in Iran negotiations. Brent crude (BZ=F) and the U.S. dollar index (^NYICDX) rose 7.17% and 1.21%, respectively, over the past five days, according to Yahoo Finance, reinforcing pressure on precious metals.