Gold prices slump

Gold fell sharply from two-week highs on Thursday after US ‌President Donald Trump said that Washington would continue its military campaign in Iran in the coming weeks, driving oil prices higher and dampening hopes of interest rate cuts.

Spot gold declined over 2.8 percent at $4,622.59 per ounce, as of 0719 ​GMT, after falling over 4 percent earlier and snapping a four-day winning streak. US gold futures slid ​3.4 percent to $4,649.

The pullback followed bullion’s climb to its highest level since March 19, before Trump’s remarks.

In a prime-time address, Trump said the US would carry out aggressive strikes on Iran ​and was nearing “completion of its main strategic objectives” in the conflict. It disappointed investors who had hoped ​for clearer signals of an end to hostilities.