Gold drops after Israel-Iran ceasefire

Gold prices fell by over one per cent to hit a two-week low on Tuesday following US President Donald Trump’s declaration of a ceasefire between Israel and Iran, reducing the attractiveness of gold as a safe-haven asset.

Spot gold slipped 1.52 per cent to $3,317.83 an ounce by 12:22 GMT. US gold futures also fell 1.86 per cent to $3,331.72.

Attribution: Amwal Al Ghad English, Reuters
Subediting: M. S. Salama