Ammon News - Gold ticked down on Tuesday as ‌investors stayed cautious ahead of a deadline set by U.S. President Donald Trump for Iran to reopen the Strait of Hormuz.

Spot gold edged 0.2% lower to $4,638.30 per ounce by 0539 GMT, while ​U.S. gold futures for June delivery fell 0.4% to $4,664.

Iran and Israel traded attacks ​as Tehran defiantly refused to reopen the Strait of Hormuz and accept a ceasefire deal on the eve of Trump's deadline to agree to his demands or get "taken out."

Oil prices extended gains, holding ​above $110 a barrel as Trump raised his rhetoric against Iran.

Spot silver fell 0.8% to $72.19 per ounce, platinum shed 1% to $1,959.82 and palladium slid 0.6% to $1,475.93.

Reuters