Gold Falls Most in Two Weeks as US-Iran Talks Hang in Balance
A worker polishing gold bars at a precious metals refinery in Balerna, Switzerland.
Photographer: Francesca Volpi/BloombergGold declined the most in more than two weeks as US President Donald Trump said he would extend the ceasefire with Iran, after plans for diplomatic talks between the two countries were scrapped.
Bullion fell as much as 3.1% before paring some losses after Trump said Tuesday in a Truth Social post that he’s extending the ceasefire until talks conclude while the US continues its blockade on the Strait of Hormuz, the vital waterway for oil shipments.