Gold price today: The precious metal continues to bleed amid anticipation of peace talks.

Gold 

 Gold price today: The precious metal continues to bleed amid anticipation of peace talks.

Gold prices fell on Tuesday as the dollar strengthened and investors awaited news on whether the United States and Iran would meet this week for peace talks following renewed tensions.

Kyle Rodda, a financial markets analyst at Capital.com, said investors are now waiting for "the next major news regarding whether the talks will proceed in Islamabad, and if so, whether the ceasefire will be extended, or better yet, a peace agreement will be reached."

Roda added, "If these things happen, gold is likely to receive strong support because oil prices will fall. If these things don't happen, we may start to see some of this volatility return to the market."

Oil prices fell as investors reassessed supply risks amid expectations of peace talks between the United States and Iran this week, which would allow more crude to flow from the Middle East.

High oil prices exacerbate inflation by increasing transportation and production costs. Gold is considered a hedge against inflation, but rising interest rates increase demand for yield-generating assets, thus reducing its appeal.

Gold price today

Gold prices fell 0.2% in spot trading to $4,807.91 per ounce by 8:17 AM Abu Dhabi time, extending losses from the previous session when it hit its lowest level since April 13. US gold futures for June delivery settled at $4,827.30.
The dollar rose, increasing the cost of goods priced in US dollars for holders of other currencies.

Efforts to end the American blockade

A senior Iranian official told Reuters on Monday that his country was considering participating in peace talks in Pakistan, following efforts by Islamabad to end the US embargo.
The blockade poses a major obstacle to Tehran's return to peace efforts, as the current two-week ceasefire is about to expire.
A two-week ceasefire in a conflict that has killed thousands and severely damaged the global economy, particularly energy markets, is set to end this week.

Precious metal prices

Gold prices have fallen by about 8% since the United States and Israel launched their attacks on Iran in late February.
As for other precious metals, silver fell 0.6% to $79.40 an ounce in spot trading, platinum lost 0.7% to $2,074, while palladium rose 0.3% to $1,556.16.

Gold prices have eased as investors wait to see whether the US and Iran will take part in talks after renewed tensions over the weekend, while a marginally firmer dollar added to the pressure.

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