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Gold forecast: XAU/USD eases as oil spikes on latest escalation in tensions

Oil prices, already higher on the day, spiked again in the afternoon trading, as stocks, crypto and FX markets all turned volatile on renewed escalation of Middle East tensions. Reports suggest that Iran has stopped talks with US in protest over Israel's bombing of Lebanon.
Date: 01.06.2026  |  Source: forex.com
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Quotes

Instrument Price Change (%)
EURUSD 1.162250 -0.33956%
GBPUSD 1.345130 +0.029002%
USDJPY 159.646000 +0.24552%
XAUUSD 4470.490000 -1.54255%
USDCAD 1.383360 +0.33946%
NZDUSD 0.592980 -0.93555%
USDCHF 0.787130 +0.81716%
AUDUSD 0.715380 -0.3649%
EURGBP 0.864030 -0.32187%
EURJPY 185.552000 -0.084541%
GBPJPY 214.750000 +0.24039%
AUDJPY 114.208000 -0.17481%
CADJPY 115.406000 -0.014728%
CHFJPY 202.802000 -0.55118%
NZDJPY 94.657000 -0.75282%
GBPCHF 1.058810 +0.83329%
EURCHF 0.914880 +0.51749%
USDMXN 17.380460 +0.2449%
USDZAR 16.339800 +0.7709%
USDTRY 45.897500 +0.34039%
USDRUB 71.940000 +1.27402%
USDSEK 9.320000 +0.99117%
USDCNY 6.764500 -0.017737%

Upcoming Important Events

Time Country Event Forecast Previous
02.06.2026
14:00 🇺🇸 JOLTs Job Openings (Apr) 6.82 6.866
03.06.2026
01:30 🇦🇺 GDP Growth Rate QoQ (Q1) 0.5 0.8
14:00 🇺🇸 ISM Non-Manufacturing PMI (May) 53.8 53.6
14:00 🇺🇸 ISM Non-Manufacturing Prices (May) 70.7
14:00 🇺🇸 ISM Services PMI (May) 53.7 53.6
04.06.2026
01:30 🇦🇺 Balance of Trade (Apr) -1.61 -1.841
05.06.2026
10:30 GDP Growth Rate YoY (Q1) 7.3 7.8
12:30 🇺🇸 Non Farm Payrolls (May) 85 115
12:30 🇨🇦 Unemployment Rate (May) 6.9 6.9
14:00 🇨🇦 Ivey PMI (May) 55 57.7