Gold Rebounds As Dollar, Yields Dip

(RTTNews) - Gold prices rebounded on Tuesday as investors assessed mixed signals over the status of U.S.-Iran peace talks.

Spot gold jumped 0.9 percent to $4,524.87 an ounce, driven by a weaker dollar and lower U.S. Treasury yields. U.S. gold futures for August delivery were up 1.1 percent at $4,555.47.

The dollar traded in a tight range, Treasury yields eased and oil prices fell nearly 2 percent as U.S. President Donald Trump confirmed ongoing U.S.-Iran talks and said he had persuaded Israel and Hezbollah to dial back fighting.

Earlier, Iran suspended indirect negotiations with the U.S. in protest of Israel's actions in Lebanon.

Contradicting that claim, Trump said talks with Iran were continuing at a rapid pace and that Israel and Hezbollah have agreed to dial back fighting.

However, fighting continues in southern Lebanon, keeping the situation fluid.

Israeli Prime Minister Benjamin Netanyahu said that he spoke with U.S. President Trump by phone and told him that the Israel Defense Forces (IDF) will continue to operate as planned in southern Lebanon if Hezbollah doesn't stop firing at Israel.

Trump told ABC News that he anticipates securing an agreement with Tehran to extend the ceasefire and reopen the Strait of Hormuz "over the next week."

Separately, speaking to CNBC, Trump said he don't care if peace negotiations with Iran are over, adding he thought the protracted discussions "started to get very boring."