Gold drops on fading Middle East peace hopes; traders eye US inflation data
Gold prices dropped from a three-week high on Tuesday, as hopes for a peace deal between the United States and Iran dimmed, lifting the dollar and heightening concerns around inflation ahead of key U.S. inflation data.
Spot gold fell 0.8% at $4,697.97 per ounce by 0750 GMT, after climbing to its highest since April 21 in early Asia trade.
U.S. gold futures for June delivery lost 0.5% to $4,704.70.
U.S. President Donald Trump said a ceasefire with Iran was 'on life support' as Tehran rejected a U.S. proposal to end the conflict and stuck to a list of demands that Trump described as 'garbage'.
Meanwhile, oil prices rose, and the dollar extended gains from the previous session.
Spot silver fell 2.2% at $84.18 per ounce, platinum slid 3.1% to $2,064.83, and palladium was down 1.7% at $1,483.
Reuters
Gold prices dropped from a three-week high on Tuesday, as hopes for a peace deal between the United States and Iran dimmed, lifting the dollar and heightening concerns around inflation ahead of key U.S. inflation data.
Spot gold fell 0.8% at $4,697.97 per ounce by 0750 GMT, after climbing to its highest since April 21 in early Asia trade.
U.S. gold futures for June delivery lost 0.5% to $4,704.70.
U.S. President Donald Trump said a ceasefire with Iran was 'on life support' as Tehran rejected a U.S. proposal to end the conflict and stuck to a list of demands that Trump described as 'garbage'.
Meanwhile, oil prices rose, and the dollar extended gains from the previous session.
Spot silver fell 2.2% at $84.18 per ounce, platinum slid 3.1% to $2,064.83, and palladium was down 1.7% at $1,483.
Reuters
Gold prices dropped from a three-week high on Tuesday, as hopes for a peace deal between the United States and Iran dimmed, lifting the dollar and heightening concerns around inflation ahead of key U.S. inflation data.
Spot gold fell 0.8% at $4,697.97 per ounce by 0750 GMT, after climbing to its highest since April 21 in early Asia trade.
U.S. gold futures for June delivery lost 0.5% to $4,704.70.
U.S. President Donald Trump said a ceasefire with Iran was 'on life support' as Tehran rejected a U.S. proposal to end the conflict and stuck to a list of demands that Trump described as 'garbage'.
Meanwhile, oil prices rose, and the dollar extended gains from the previous session.
Spot silver fell 2.2% at $84.18 per ounce, platinum slid 3.1% to $2,064.83, and palladium was down 1.7% at $1,483.
Reuters
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Gold drops on fading Middle East peace hopes; traders eye US inflation data
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