Gold (XAU/USD) pulls back from last week’s high on Monday, reaching session lows a few dollars above the $4,650 level at the time of writing. Waning hopes of a swift end to the US-Iran war and strong US employment data, which eases pressures on the Federal Reserve to cut rates anytime soon, are hurting precious metals on Monday.
US President Donald Trump dismissed Iran’s late proposal of a peace agreement, which, according to Iran’s state media, includes recognition of the sovereignty of th