Gold prices edged lower on Monday as conflicting signals emerged regarding potential U.S.-Iran negotiations. Iran's Ministry of Foreign Affairs publicly denied President Trump's claims that direct talks were underway between Washington and Tehran. Trump, however, named Mohammad-Bagher Ghalibaf as an Iranian official involved in discussions aimed at ending the conflict, according to a Monday interview with the New York Post. This discrepancy heightened market uncertainty.

Fawad Razaqzada, a market analyst at FOREX.com, noted the dollar's slight rebound and stable bond yields, factors historically unfavorable for gold. Spot gold traded down 0.1% to $4,508.23 an ounce. The conflicting narratives underscore the fragile state of any potential diplomatic progress and its immediate impact on precious metals markets.