Price pressure on gold, silver, on inflation worries

(Kitco News, Monday. April 13th, 2026) – Gold and silver prices are lower in early U.S. trading Monday, the failed weekend peace talks between the U.S. and Iran have reignited worries about problematic inflation weighing on global demand for gold and silver. June gold was last down $43.00 at $4,744.10. May silver prices were down $2.13 at $74.35.

Latest on the war in the Middle East…

• Fragile ceasefire between U.S., Iran appears to be holding, for now
• U.S. blockade from 10 a.m. ET Monday of all maritime traffic entering, exiting Iran ports
• Iran rejects U.S. restrictions on shipping and threatens ports in the Persian Gulf
• Iran-U.S. talks broke down over U.S.’s “shifting goalposts,” Iran says
• Brent, WTI rise sharply; European gas futures spike; Asian stocks, U.S. futures decline
• Saudi Arabia says east-west oil pipeline restored to full capacity
• “A Panicked Race for Barrels Grips the Global Oil Market,” reads Bloomberg headline
• U.S. intelligence shows China set to supply Iran arms, CNN reports

After the war, prices will remain elevated for a while: IMF chief. Global prices will take time to come down to levels seen before the U.S.-Israeli war with Iran even if a ceasefire holds, International Monetary Fund Managing Director Kristalina Georgieva said and as reported by Bloomberg. “It will take some time, yes, and it will take more time for locations that are experiencing higher degree of disruption,” Georgieva said in comments aired Sunday on CBS’s Face the Nation ahead of this week’s spring meetings of the IMF and the World Bank. “That’s why we need to remember the asymmetry of this shock.” Georgieva reiterated that the IMF will lower its global growth forecast as a result of the war in Iran. “We are going to have a downgrade, and the size of this downgrade will depend on thesetwo things, duration and speed with which everything can come back to the same level of production that we had before,” she said.

The key outside markets see Nymex WTI crude strongly higher and trading around $104.50 a barrel. The U.S. dollar index is higher. The yield on the benchmark 10-year U.S. Treasury note is presently 4.35 percent.