Gold Pulls Back as the Dollar Strengthens, US-Iran Talks Blow Up
Spot gold started the week with a pullback, losing 0.2% to trade at $4,740 per ounce. On Tuesday, the metal recovered slightly and started the day at $4,758. These losses came as the talks between the United States and Iran fell through over the weekend and the dollar regained its momentum. In the wake of the failed talks, the U.S. announced it was initiating a naval blockade of all Iranian ports in order to exert pressure on Tehran to agree to a permanent deal that ends the turmoil in the Middle East. Iran vowed to conduct retaliatory actions against ports…