Gold and silver turn lower as Middle East peace talks failure rekindles inflation worries
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Gold and silver futures declined as failed U.S.-Iran peace talks raised inflation concerns, impacting demand for precious metals. President Trump's naval blockade proposal at the Strait of Hormuz shifted focus to energy markets. Analysts noted the market's sensitivity to headlines, particularly regarding crude oil prices, which influence inflation and Federal Reserve policy. Current estimates show a 29% chance of a U.S. interest rate cut by year-end, down from 40% a month ago, negatively affecting non-yielding bullion. April gold fell 0.4% to $4,742.40/oz, and silver dropped 1% to $75.523/oz.
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