Gold declined as the US extension of a ceasefire with Iran left global markets grappling with a blockade of the Strait of Hormuz, impacting energy security and keeping inflation risks high.

Gold regained some ground after a two-day decline, as US President Donald Trump extended a ceasefire with Iran and allowed more time to arrange a fresh round of peace talks.

Gold extended losses on Tuesday as a stronger dollar and rising yields ‌weighed on prices, while investors awaited the outcome of tentative U.S.-Iran talks and Federal Reserve Chair nominee Kevin Warsh's confirmation hearing.

Gold firmed Wednesday as lower oil prices, following an extended U.S.-Iran ceasefire, eased fears of an inflation spike and prolonged high interest rates.

Quick Read Gold (GLD) fell 0.79% as spot gold slid to nearly $4,778 per ounce, driven by U.S.-Iran peace talk optimism and a firming dollar that drained safe-haven demand. Investors are rotating out of gold into risk assets as geopolitical tensions ease,

Gold prices fell on Tuesday, weighed down by a firm U.S. dollar ​as lingering uncertainty over U.S.-Iran ​peace talks kept investors ​cautious.

Gold fell, pressured by a rally in the dollar and a rise in U.S. Treasury yields, while investors awaited U.S.-Iran talks and Federal Reserve Chair nominee Kevin Warsh's confirmation hearing