FX.co ★ Gold Slips as Iran War Persists

Gold slipped below $4,500 per ounce on Thursday, paring gains from the previous session as conflicting signals from Washington and Tehran over possible peace talks kept financial markets on edge. US officials insist negotiations are underway, with the Trump administration reportedly sending a 15-point proposal to Iran via Pakistan aimed at resolving the conflict and reopening the Strait of Hormuz. Tehran, however, has stated it has no intention of engaging in talks with the US and would reject any American ceasefire offer, instead insisting on its own terms, including sovereign control over the strategic waterway. At the same time, Washington has ordered the deployment of thousands of additional troops to the Middle East, intensifying fears of a potential ground invasion. Gold has come under heavy selling pressure this month as surging energy prices—driven by supply disruptions linked to the Iran war—have stoked inflation concerns and prompted a more hawkish stance from major central banks.