India, April 28 -- Extending the losses from yesterday's session, gold prices have tumbled on Tuesday after the U.S. administration's reluctance to accept Iran's peace plan diminished the expectations of a solution to the gulf crisis. While Iran is working on revising its proposal, the Strait of Hormuz continues to remain blocked.
Front Month Comex Gold for June month delivery has slumped by $91.20 (or 1.94%) to $4,602.50 per troy ounce.
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