Gold dips as inflation concerns linger; markets watch US-Iran talks

Gold prices nudged lower on Monday, weighed down by inflation worries that clouded the U.S. monetary policy outlook, while markets awaited developments in U.S.-Iran peace negotiations. Fundamentals Spot ​gold was down 0.3% at $4,599.45 per ounce, as of 0114 GMT. US ‌gold futures for June delivery fell 0.7% to $4,611.40. US President Donald Trump said that Washington would start an effort on Monday morning to free ships stranded in the Strait of Hormuz as a “humanitarian ​gesture” to aid, opens new tab neutral countries in the US-Israeli war with Iran. Iranian state media ​reported that Washington conveyed its response to Iran’s 14-point proposal via Pakistan, ⁠and that Tehran was now reviewing it. Oil prices eased but held above $100 a ​barrel, with the lack of clarity around a potential U.S.-Iran peace deal remaining in focus.