Gold Holds Near Two-Day Losses as U.S.-Iran Talks Stall

Gold held near two-day losses as stalled U.S.-Iran talks kept inflation concerns elevated. The lack of progress in negotiations continued to pressure interest rates.

Markets appeared optimistic, with oil prices falling after a senior U.S. official said Washington would give talks every chance to succeed.

One side signaled an extended timeline for peace talks, saying it is not satisfied with the current terms. Officials from the other country thought they were going to outwait the U.S. side, according to remarks made Wednesday. The White House dismissed a draft memorandum of understanding published by Iranian state media as a complete fabrication.

" — Remarks made Wednesday (Semafor) Rising costs stemming from the conflict are set to play a central role in upcoming U.S. midterm elections, the same remarks noted.

countries have delivered inconsistent messages on the state of talks.