Gold prices declined on Monday as the lack of progress in peace negotiations between the United States and Iran pushed oil prices higher, increasing concerns that rising inflation could keep interest rates elevated for a longer period.
اضافة اعلان
As of 02:23 GMT, spot gold fell 0.6% to $4,684.32 per ounce.
U.S. gold futures for June delivery declined 0.8% to $4,692.70.
The U.S. dollar strengthened, making dollar-denominated gold more expensive for holders of other currencies.
On Sunday, U.S. President Donald Trump rejected Iran’s response to a U.S. proposal for peace talks, diminishing hopes for an imminent end to the 10-week conflict that has caused widespread damage in Iran and Lebanon, disrupted maritime navigation through the Strait of Hormuz, and driven up global energy prices.
As for other precious metals, spot silver rose 0.7% to $80.88 per ounce, while platinum fell 0.6% to $2,042.71, and palladium dropped 0.4% to $1,484.99.
Reuters
