Gold price (XAU/USD) slumps to around $4,775 during the early Asian session on Monday. Traders digest renewed tensions between the United States (US) and Iran over the critical Strait of Hormuz. Bloomberg reported on Sunday that Iran denied it would participate in new peace talks with the US, hours after US President Donald Trump said its negotiators would head to Pakistan on Monday for a second round of peace talks with Iran. The Iranian military declared the Strait of Hormuz closed to all commercial vessels, adding that it will target any ship approaching the strait until the US lifts its naval blockade of Iranian ... (full story)