Gold Slumps as U.S.-Iran Peace Talks Stay Inconclusive

Gold prices fell sharply on May 27, 2026, as a breakthrough in U.S.-Iran peace negotiations remained elusive, sapping demand for the safe-haven metal. Spot gold dropped 2.1% to $2,345.80 an ounce, its steepest one-day decline in three weeks. Investors rotated out of bullion after the latest round of talks in Geneva ended without a timeline for easing sanctions. The stalemate dimmed fears of a broader Middle East conflict that had pushed gold to record highs earlier this month. “The market is pricing out the geopolitical risk premium,” said a senior commodities strategist. “Until we see a concrete deal, gold will remain sensitive to incremental headlines.” U.S. gold futures also settled lower, down 1.9% at $2,352.30 an ounce.