Ammon News - Gold prices fell on Monday, as a lack of progress in U.S.–Iran ‌peace negotiations pushed oil prices higher, fuelling concerns that elevated inflation could keep interest rates higher for longer.

Spot gold fell 0.8% at $4,678.39 per ounce, as of 0407 GMT. U.S. gold futures for June ​delivery lost 0.9% at $4,686.20.

The dollar rose, making greenback-priced bullion more expensive for holders ​of other currencies.

U.S. President Donald Trump on Sunday rejected Iran's response to a U.S. ⁠proposal for peace talks, dashing hopes for an imminent end to the 10-week-old conflict that ​has caused widespread damage in Iran and Lebanon, paralyzed maritime traffic in the Strait of ​Hormuz, and driven up global energy prices.

Spot silver rose 0.4% at $80.61 per ounce, platinum slid ​0.7% to $2,041.66, and palladium was down 0.6% at $1,482.46.


Reuters