Gold's Rally Slows Amid U.S.-Iran Negotiation Reports
Gold prices saw a slight decline today, Monday, due to conflicting reports about the possibility of reaching a diplomatic agreement between the United States and Iran. This came after U.S. President Donald Trump announced the cancellation of an planned military strike against Iran. Meanwhile, the Iranian Foreign Ministry denied that any negotiations are currently taking place. Although tensions have eased, uncertainty still remains as markets await key U.S. employment data. Gold remains heavily influenced by expectations of interest rate hikes by the Federal Reserve, which continue to exert downward pressure on the precious metal’s prices and limit its recovery.
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