Gold Declines as Traders Weigh Trump Remarks on Truce Prospects
An unburnished one kilogram gold bar inspected at the Perth Mint Refinery in Perth, Australia.
Photographer: Matt Jelonek/BloombergGold fell after US President Donald Trump ratched up threats ahead of a deadline he’s imposed for Iran to reopen the Strait of Hormuz or face further attacks on civilian infrastructure.
Bullion dropped 0.5% after Trump said Iran might be “taken out” by Tuesday just after the Wall Street Journal reported the US military is making preparations for potential strikes on energy targets in Iran. The dollar trimmed losses, and Treasury yields edged higher on Trump’s remarks, weighing on gold as it pays no interest and is priced in the greenback.