.jpg)
1 hour ago
3
Article content
(Bloomberg) — Gold held a decline as traders weighed conflicting signals from the US and Iran ahead of fresh talks to end the war that’s fueled global inflationary pressures.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
The metal was little changed near $4,020 an ounce, after falling almost 2% in the previous session. Washington said negotiations with Tehran are due to begin Tuesday in Doha, while Iran’s foreign ministry said on Telegram that it would send a delegation of experts but ruled out direct talks.
Article content
Article content
Article content
Separately, Iranian Deputy Foreign Minister Kazem Gharibabadi said that Tehran intended to continue with plans to oversee traffic through the Strait of Hormuz, a move opposed by the US, Europe and Gulf Arab nations, highlighting differences over the future management of the vital waterway.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
Gold is down nearly 24% since the war began in late February and dipped briefly below $4,000 an ounce last week. The war-driven spike in energy prices has raised expectations that central banks will keep interest rates higher for longer, a negative for non-yielding bullion.
Article content
The latest developments in the Middle East come as the US Supreme Court ruled that Federal Reserve Governor Lisa Cook can stay in her job while she fights President Donald Trump’s bid to oust her over unproven mortgage fraud allegations.
Article content
The ruling reinforces the autonomy of the US central bank, which is under pressure to lower rates at a time when some Fed officials have signaled they may need to raise borrowing costs to contain inflation. The latest US inflation data released last week, while high, was within analyst estimates.
Article content
Spot gold was up 0.1% at $4,018.84 an ounce at 7:35 a.m. in Singapore. Silver rose 0.4% to $58.51 an ounce. Platinum and palladium also traded higher. The Bloomberg Dollar Spot Index was little changed after falling for the previous three sessions.
Article content
Advertisement 1
English (US)