Gold prices slip, on track for weekly loss amid Iran talks uncertainty

WASHINGTON, United States — Gold prices fell slightly on Friday and are on track for a weekly loss as uncertainty over U.S.-Iran negotiations and broader geopolitical tensions weighed on the market. Spot gold dropped 0.3 percent to $4,462.22 as of 00:49 GMT. U.S. gold futures for August delivery fell 0.4 percent to $4,489. Since the start of the week, gold prices have declined approximately 1.6 percent. Middle East tensions have reduced expectations for a potential peace agreement between Washington and Tehran, according to Reuters, which reported that regional geopolitical risks continue to pressure the precious metal. Rising inflation and concerns that interest rates may be increased have also affected market sentiment. No further details were immediately available.