Gold falls as Trump pauses Iran strike and oil retreats
Spot gold fell 0.5% to $4,543.49 per ounce on Tuesday as markets reacted to President Trump's decision to pause a planned attack on Iran. Investors are now awaiting the release of the April FOMC minutes while monitoring cooling oil prices and shifting inflation expectations.
Gold prices fell 0.5% to $4,543.49 per ounce on Tuesday, staying above a six-week low hit the previous session. U.S. gold futures for June delivery lost 0.2% to $4,546.90. Markets consolidated while awaiting developments after U.S. President Donald Trump paused a planned attack against Iran.
Gold prices fell 2.4% on Friday in their biggest one-day fall since March 26 and extended losses on Monday before recovering to close slightly higher. The United States paused a planned strike against Iran to facilitate negotiations aimed at ending the conflict with Israel, following a new peace proposal sent by Tehran to Washington.
