Commodities
Gold Prices Tumble Below $4,100 on US-Iran Diplomatic Progress
Gold prices dipped below $4,100 per ounce on Tuesday as investors shifted their focus to diplomatic talks between the United States and Iran.
The market's optimism about a potential breakthrough in negotiations has reduced safe-haven demand for gold, prompting some profit-taking.
A successful agreement could lead to the lifting of sanctions on Iranian oil exports, increasing global supply and potentially reducing energy prices.
Lower oil prices would ease inflationary pressures, diminishing gold's appeal as an inflation hedge.