09:11 AM EDT, 06/15/2026 (MT Newswires) -- Gold rose for a second day early Monday as the U.S. dollar and yields fell after Iran and the United States agreed to a truce in their war, pushing oil prices lower and easing inflation fears that have pushed investors away from the precious metal.

Gold for July delivery was last seen up US$124.80 to US$4,363.60 per ounce.

The price of the metal has slumped 19% since the United States and Israel launched their war on Iran on Feb. 28. With the high oil prices that followed the closing of the Strait of Hormuz, the choke point for a fifth of daily oil demand, boosting inflation, investors turned to the dollar as a hedge against potential interest-rates by central banks and away from gold.

"Gold and other hard assets rallied strongly after the announcement of an interim peace deal, as easing concerns over energy prices helped reduce the inflation threat that has weighed heavily on the sector throughout the Middle East conflict. Lower oil prices have also prompted traders to scale back expectations for further interest-rate hikes, providing an additional tailwind for precious metals," Saxo Bank noted.

The dollar traded lower early, with the ICE dollar index last seen down 0.26 points to 99.49. Treasury yields also fell, with the U.S. two-year note last seen paying 4.052%, down 4.1 basis points, while the yield on the 10-year note was down 3.3 points to 4.457%.