Gold steady as investors weigh Middle East risks, stalled US–Iran peace talks

Gold prices were largely steady on Tuesday, as investors weighed the economic fallout of escalating tensions in the Middle East amid stalled peace talks ​between the U.S and Iran. Fundamentals Spot gold was up 0.2% ‌at $4,528.99 per ounce, as of 0059 GMT. Bullion fell over 2% to its lowest level since March 31 in the previous session. The Week in Breakingviews newsletter offers insights and ideas from Reuters’ global financial commentary team. Sign up here. U.S. gold futures for June delivery rose 0.1% ​to $4,538.20. The U.S. and Iran launched new attacks in the Gulf on ​Monday as they wrestled for control over the Strait of ⁠Hormuz with maritime blockades, shaking a fragile truce. The U.S. military said on Monday ​it destroyed six Iranian small boats and intercepted Iranian cruise missiles and drones as ​Tehran sought to thwart a new U.S. naval effort to open shipping through the Strait of Hormuz.