Gold price crashes amidst US-Iran war ceasefire: Check latest gold rate

Gold fell on Monday, pressured by a firm dollar, while ​higher oil prices heightened fears ​of inflation and higher-for-longer interest rates as U.S.-Iran peace ​talks remained stalled. Spot gold was down 0.3 per cent at $4,694.26 per ounce. Last week, the metal lost 2.5 per cent to snap a four-week winning streak. U.S. ‌gold futures ⁠for June ⁠delivery fell 0.9 per cent to $4,697.60. Spot silver fell 0.3 per cent to $75.48 per ounce, platinum lost 0.3 per cent to $2,005.15, and palladium was down 0.3 per cent at $1,492.22.

U.S. 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 U.S. should remove obstacles to a deal, including its blockade of Iran's ports.

​Trump cancelled a trip by two U.S. ⁠envoys to Iran ‌war mediator Pakistan on Saturday, dealing a setback ​to peace ​prospects following Iran foreign minister's departure from Islamabad after ⁠speaking only to Pakistani officials.


Oil prices rose, the ​dollar inched higher and U.S. stock futures slipped as ​stalled U.S.-Iran peace talks prolonged the disruption of Middle East energy exports, unsettling markets and policymakers ahead of a packed week of central bank meetings.

Republican Senator Thom Tillis on Sunday said he would allow Senate confirmation of Federal Reserve chair nominee Kevin Warsh to go ‌forward after the Department of Justice on Friday dropped an investigation into Fed Chair Jerome Powell.

In contrast, gold ​premiums in India ​climbed last week ⁠to their highest point in 2-1/2 months as supplies tightened, while buying interest picked up in China. SPDR Gold Trust, the world's largest gold-backed exchange-traded ​fund, said its holdings fell 0.2 per cent to 966.30 metric tons on Thursday. Investors now await the U.S. Federal Reserve's interest rate decision, after its two-day meeting, on Wednesday.