India, Aug. 18 -- After two sessions of gains, gold prices have tumbled on Tuesday as both the U.S. and Iran refused to relax their demands for peace talks, thereby leaving the Strait of Hormuz closed, sending crude oil prices higher and renewing inflationary pressures and interest rate concerns.
Front Month Comex Gold for September month delivery has slumped by $53.60 (or 1.21%) to $4,370.80 per troy ounce.
Front Month Comex Silver for September month delivery has nosedived by $2.186 (or 3.30%) to $64.045 per troy ounce.
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