Gold slipped 0.2% to $4,530.87/oz as Asian markets opened, reflecting traders’ focus on stalled U.S.-Iran talks. The Strait of Hormuz remains a flashpoint, while Tehran pushes for sanctions relief. U.S. officials insist the deal bars Iran from nuclear weapons, a point Trump highlighted on Truth Social.

Guoxin Futures analysts note that unresolved military tensions near the strait inflate risk premiums, pushing investors toward safe havens. Meanwhile, the dollar and Treasury yields stay volatile, erasing clear catalysts for precious metals. The lack of progress on nuclear talks keeps gold on a tightrope, with traders wary of sudden shifts in geopolitical risk that could trigger a swift rally.

At $4,530.87/oz, gold’s modest decline signals investor uncertainty over a deal that could reshape sanctions and regional stability. The outcome will affect not only commodity prices but also the broader energy market, as Strait of Hormuz access dictates oil flows. Until U.S. and Iranian negotiators resolve core issues, gold will likely remain tethered to geopolitical jitters and seek clearer signals.