Washington, June 23 (SANA) Gold prices were little changed on Tuesday while oil extended losses as investors assessed developments in U.S.-Iran negotiations and their potential impact on energy markets.
According to Reuters, spot gold was steady at $4,191.09 an ounce, while U.S. gold futures for August delivery rose 0.2% to $4,208.40.
Market sentiment was also influenced by expectations that the U.S. Federal Reserve could raise interest rates in December, a factor that has weighed on demand for non-yielding assets such as gold.
Among other precious metals, silver fell 0.4% to $64.92 an ounce, platinum lost 0.4% to $1,672.90 and palladium gained 0.1% to $1,266.35.
Oil prices, meanwhile, declined for a second straight session as traders monitored signs of progress in diplomatic efforts between Washington and Tehran.
Brent crude futures fell 20 cents, or 0.3%, to $77.70 a barrel, while U.S. West Texas Intermediate crude slipped 12 cents, or 0.2%, to $73.74 a barrel, Reuters reported.
The market reaction followed comments by U.S. Vice President JD Vance, who said on Monday that talks with Iran in Switzerland had made progress. Vance said Tehran had agreed to allow inspectors from the International Atomic Energy Agency (IAEA) access to the country, with technical discussions on inspection arrangements expected later this week.
Investors are closely watching the negotiations for indications that crude exports and shipping flows through the Strait of Hormuz could become less vulnerable to disruption, a development that could ease pressure on global energy markets.
R.H/Abd
