The price of precious metals fell on Thursday as investors awaited clearer evidence of progress in efforts to ease tensions in the Middle East. Financial markets remained uneasy due to conflicting statements from the US and Iran over possible peace negotiations. Washington claimed Iran was desperate to reach an agreement, while ordering the deployment of thousands of troops to the Middle East, contradicting the Iranian foreign minister, who claimed his country had no intention of holding talks to end the conflict and instead set its own conditions, including sovereign control over the Strait of Hormuz.
Gold lost 2% at 7:15 am CET, going for $4,416.14 per ounce, while silver fell by 3.01% and went for $69.13 per ounce a minute later. Platinum dropped by 1.09% at 7:16 am CET to go for $1,918.74 per ounce, while palladium lost 0.76% to sell for $1,398.57 per ounce.