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Gold slipped below $4,150 an ounce on Monday, extending its recent decline as higher oil prices kept inflation worries elevated amid renewed tensions on the opening day of US-Iran talks. President Donald Trump threatened new military action if Hezbollah continues attacking Israel and cautioned Tehran against once again closing the Strait of Hormuz. In parallel, Iranian media reported that Tehran had suspended negotiations in response to Trump’s comments, though sources familiar with the talks said discussions were still ongoing.
Gold was further pressured by expectations of tighter monetary policy after the Federal Reserve left interest rates unchanged last week but struck a more hawkish tone. Nine of the Fed’s 19 policymakers now project at least one rate increase this year, and investors are pricing in the possibility of a hike as early as September.
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