Gold subdued as US dollar gains, markets await Iran response

From brecorder.com

Gold prices edged lower on Monday as investors favoured the dollar following the US attack on key Iranian nuclear sites over the weekend, with markets closely watching for Iran’s response. Spot gold was down 0.2% at $3,362.29 an ounce, as of 0341 GMT. US gold futures fell 0.2% to $3,378. “The US strikes on Iranian nuclear facilities resulted in the dollar receiving safe haven buying flows in the currency market,” KCM Trade Chief Market Analyst Tim Waterer said. “This USD uptick had pegged gold back and caused an uncharacteristically subdued performance from the precious metal despite risks stemming from the ... (full story)