Gold Dips Toward $4,500 As Iran Reviews US Proposal To End War
(RTTNews) - Gold dipped toward $4,500 an ounce on Thursday, weighed down by a firm dollar and higher Treasury yields.
Spot gold slipped 0.3 percent to $4,531.74 an ounce while U.S. gold futures were down half a percent at $4,533.75.
Traders monitored peace talks between the United States and Iran after U.S. President Donald Trump said the talks with Iran are on the "borderline" between a deal and renewed strikes.
"We'll either have a deal or we're going to do some things that are a little bit nasty," Trump said while leaving open the possibility of renewing military attacks against Iran.
Iran said it was examining a new U.S. proposal to end the Middle East war. President Masoud Pezeshkian stated that Iran has "explored every avenue to avert war," and that "all paths remain open from our side."
In a post on his X account late on Wednesday, he wrote that forcing Iran to surrender through coercion is nothing but an illusion and that mutual respect in diplomacy is far wiser, safer, and more sustainable than war.
Overnight, minutes from the Fed's latest policy meeting revealed a noticeably hawkish tone, with most officials anticipating that interest rate hikes would be necessary if inflation persists above their 2 percent target.
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