Gold prices fall

Efforts to end the Iran conflict were at an impasse, with US President Donald Trump unhappy with the latest proposal from Tehran, and urging Iran to ‘get smart soon’ and sign a deal

The dollar gained, and oil prices rose above $111 a barrel, as the crucial Strait of Hormuz waterway remained largely shut

Global equities extended losses into a third session as a selloff on Wall Street intensified, with precious metals gripped by wrenching volatility

The dollar index rose 0.3 per cent against its rivals, making gold more expensive for other currency holders

Gold, traditionally seen as a hedge against economic and political uncertainties, thrives in a low-interest rate environment