Gold falls on firm dollar, oil-driven inflation fears as US-Iran talks stall

Gold fell on Monday, pressured by a firm dollar, while higher oil prices heightened fears of inflation and higher-for-longer interest rates as US-Iran ​peace talks remained stalled. Fundamentals Spot gold was down 0.3% at $4,694.26 ‌per ounce, as of 0059 GMT. Last week, the metal lost 2.5% to snap a four-week winning streak. Get the latest news from India and how it matters to the world with the Reuters India File newsletter. Sign up here. US gold futures for June delivery fell 0.9% to $4,697.60. US President ​Donald Trump said on Sunday Iran could telephone if it wants ​to negotiate an end to their two-month war and stressed it ⁠can never have a nuclear weapon, after Tehran said the US should ​remove obstacles to a deal, including its blockade of Iran’s ports.