IAU is trading at $78.12, down 3.15% in pre-market as President Trump’s rejection of Iran’s proposal to reopen the Strait of Hormuz renewed tensions and lifted oil, keeping inflation and rate-hike concerns in focus.
- Gold fell amid that backdrop; spot gold was down 0.5% to $4,261.59 at 7:56 a.m. Singapore time.
- Another account reported gold around $4,265 after a weekly decline.