Gold Steadies as Investors Track War Stalemate and Stock Moves

Gold was little changed following a modest two-day gain, as investors assessed the deadlock in the Middle East conflict, and swings in Asian stock markets ahead of a key US inflation report.

Bullion for immediate delivery traded near $4,726 an ounce, paring earlier gains. President Donald Trump 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,” offering no quick end to the conflict.