Gotrade News - Spot gold slipped 0.79% to $4,652.27 per troy ounce on May 14, 2026, ahead of the Trump-Xi summit. A 0.3% rise in the US dollar pressured bullion demand from non-USD holders.
The decline came as investors awaited trade policy signals from the two leaders' Beijing meeting. A renewed risk-on tone lifted the dollar and weighed on safe-haven assets through recent sessions.
Key Takeaways
- Spot gold dropped 0.79% to $4,652.27 per troy ounce on May 14, 2026.
- The Trump-Xi summit in Beijing has become the primary focus for precious metals this week.
- Fed rate-cut expectations faded after the April US inflation surge.
Drivers Behind the Gold Pullback
According to IDX Channel, the gold weakness was triggered by a 0.3% gain in the US dollar during May 14 trading. Investors opted to hold positions while monitoring the direction of trade talks between Washington and Beijing.
As reported by Liputan6, June gold futures also fell 0.4% to $4,686.20 per ounce. Spot gold was recorded at $4,680.26 per ounce, a slim 0.1% decline in the same session.
Bart Melek, Head of Global Commodity Strategy at TD Securities, warned of significant downside risk if Middle East tensions remain unresolved. Peter Grant of Zaner Metals added that the geopolitical premium could evaporate quickly once de-escalation occurs.
Fed rate-cut expectations have faded further after April US inflation posted its largest jump since early 2022. Higher Treasury yields reduce the relative appeal of non-yielding gold for short-term investors.
The move has weighed on gold miner equities such as Newmont (NEM) and mining ETFs like the VanEck Gold Miners ETF (GDX). Traders are watching whether the bullion correction drags other precious metals lower in the near term.
Lingering Geopolitical Risk
Per Liputan6, roughly 30 vessels transited the Strait of Hormuz on May 14 amid reports of an Indian cargo ship sinking. Another vessel was seized near UAE waters en route to Iran, lifting oil prices.
Tension along that key shipping lane has kept safe-haven demand alive even as gold corrects. Nikos Tzabouras of Tradu.com noted that investors are still hedging against potential energy supply shocks.
According to Kompas, Antam 1-gram gold at Pegadaian held steady at Rp 2,939,000 with a buyback price of Rp 2,650,000 per gram. Pegadaria reported global gold weakened 0.6% to $4,686.435 per ounce.
Precious metals investors are also tracking silver via products such as the iShares Silver Trust (SLV). The tight correlation between silver and gold means the bullion pullback could exert near-term pressure on SLV.
If the Trump-Xi meeting yields trade de-escalation signals, the US dollar could strengthen further and weigh on gold. Conversely, a stalemate could revive safe-haven demand and lift bullion from current levels.
