Gold Slides Lower as Investors Track Iran War Stalemate

Gold drifted lower as investors assessed the deadlock in the Middle East conflict, while the dollar climbed ahead of a key US inflation report.

Bullion for immediate delivery traded near $4,700 an ounce, erasing earlier gains. President Donald Trump late on Monday derided Iran’s response to a US peace proposal, and said the fragile ceasefire in the Strait of Hormuz was on “massive life support.”