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Gold Steadies With U.S., Iran Stepping Back From the Brink

  • Haven demand ebbs second day amid easing geopolitical tensions
  • Palladium slips from fresh record after Chinese autos report
Gold and Silver Casting at the Perth Mint
Photographer: Carla Gottgens/Bloomberg
Updated on

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.