Gold Pares Gains After Iran Says Ceasefire Deal With US Violated
Trays of gold bars at the Polish mint in Warsaw, Poland.
Photographer: Damian Lemanski/BloombergGold pared gains as the Iranian parliament speaker said a temporary ceasefire agreement with the US has been violated.
Bullion rose 0.4% after earlier gaining as much as 3.2% to above $4,800 an ounce. Mohammad-Bagher Ghalibaf said that three clauses of the ceasefire proposal have been violated so far. Treasury yields erased losses while the dollar trimmed losses, weighing on gold as it doesn’t pay interest and is priced in the greenback.