Gold edges down with US-Iran talks, central bank decisions in focus

Gold prices eased on Tuesday, as investors watched for the impact of the Middle East conflict and stalled US-Iran peace talks on the interest rate outlook of key central banks that meet this week. Spot gold was down 0.2% at $4,670.89 per ounce, as of 0350 GMT. US gold futures for June delivery fell 0.2% to $4,684.70. US President Donald Trump is unhappy with the latest Iranian proposal on resolving the two-month war, a US official said, dampening hopes for a resolution to the conflict that has disrupted energy supplies, fuelled inflation, and killed thousands. “Geopolitical headlines are still the main driver (of gold prices). In the event of a deal (between the US and Iran) or an interim deal, the dollar should weaken, and gold will likely break out to the upside,” said Edward Meir, analyst at Marex.