Gold Lower on Mixed Signals Over Potential Iran Ceasefire

Gold fell after US President Donald Trump sent mixed signals on whether the US and Iran could reach a deal to halt the nearly month-long war, further roiling global markets. Bullion fell as much as 3.4% Thursday, but trimmed some losses after Trump said he is extending the pause of strikes on Iran’s energy sites. “Talks are ongoing,” Trump posted on Truth Social, “and, despite erroneous statements to the contrary by the Fake News Media, and others, they are going very well.” Earlier Thursday, gold came close to a bear market — defined as a 20% drop from its recent peak — as the US president gave conflicting messages on a potential ceasefire. Axel Merk, President and Chief Investment Officer at Merk Investments, joins Bloomberg Businessweek Daily to discuss. He speaks with Carol Massar and Tim Stenovec. (Source: Bloomberg)