O gold ended this Monday’s session (13) in declineamid a scenario of renewed inflationary fears after the US and Iran maintained negotiations even after an impasse in talks over the weekend.
On Comex, the metals division of the New York Stock Exchange (Nymex), gold for June ended down 0.42%, at US$4,767.4 per troy ounce. Silver for May fell 1.06%, to US$ 75.66 per troy ounce.
The 21 hours of talks between the United States and Iran were not enough for the two countries to reach an agreement. US Vice President JD Vance stated that the Iranians have refused to halt the development of nuclear weapons.
Iran’s Foreign Minister, Abbas Araghchi, stated that the Americans constantly changed their demands during the negotiations.
Increasing tension even further, the President of the United States, Donald Trump, threatened to completely stop the flow in the Strait of Hormuz, while the country’s Central Command announced the blockade of all ports and coastal areas in Iran from this Monday morning, a strategy classified by Iran as “piracy”.
In this context, the price of a barrel of oil rose, reigniting concerns about a rise in inflation and the consequences for global monetary policy.
Broker Exness explains that, in this scenario, “major central banks may remain more cautious, putting pressure on assets that do not generate yield, such as gold.”
Operating with a negative signal throughout the day, precious metals reduced losses, amid reports that the two countries could hold a new round of negotiations. During the afternoon, Donald Trump reported that the USA had been contacted by Iran, information that has not yet been confirmed by the Persian country.
*With information from Dow Jones Newswires.
