Gold dropped for a second day as the U.S. and Iran stepped back from a deeper military conflict, blunting the appeal of haven assets.
The metal, which briefly surpassed $1,600 an ounce on Wednesday, is heading back toward levels it was trading at before the U.S. killed top Iranian general Qassem Soleimani last week. President Donald Trump’s latest remarks suggested tensions were easing and stocks rose across the globe.
