Gold Slides as Oil Surge, Fed Fears, and Stalled U.S.-Iran Talks Pressure Bullion

Gold prices fell about 1% as crude oil topped $103 a barrel, reviving inflation worries and pressuring bullion.

Stalled U.S.-Iran peace talks and fears of Strait of Hormuz disruptions added to market caution.

Traders trimmed expectations for Federal Reserve rate cuts, weakening one support for gold.

Investors are now watching upcoming U.S. CPI data and U.S.-China talks for the next market catalyst.