Gold cheapens amid US-Iran negotiations

Gold prices are declining as investors await clarity regarding possible negotiations between the US and Iran following the escalation of tensions over the past weekend.

This was reported by the Al-Jazeera television channel.

It is noted that the spot price of gold (XAU) as of 04:18 GMT (08:18 Baku time) fell by 0.5% to $4,795.51 per ounce, continuing its decline after reaching its lowest level since April 13 the day before.

US gold futures (GC.1) for June delivery fell by 0.3% to $4,814. Additional pressure on the market was exerted by a moderate strengthening of the US currency. The dollar strengthened slightly, making commodities denominated in the American currency more expensive for holders of other currencies.

It is worth recalling that since the beginning of the US and Israeli operation against Iran, gold prices have fallen by approximately 8%.