Gold saw a decline as new fighting in the Persian Gulf dampened expectations for a peace agreement between the United States and Iran and reaffirmed worries that inflation might prolong the rise in interest rates. Bullion was trading just over $4,500 per ounce in Asian hours on Wednesday after dropping 1.4 percent on Tuesday. US Secretary of State Marco Rubio stated that any agreement would probably take a few days to finalize; however, hostilities between US and Iranian forces near the Strait of Hormuz persisted despite both sides claiming progress toward an interim peace agreement. Traders were taking advantage of ... (full story)