India, Aug. 13 -- Giving back ground following four sessions of gains, gold prices have slumped on Thursday as the efforts by intermediaries to end the U.S.-Iran standoff showed no breakthrough, with both nations toughening their stance against each other, thereby raising concerns of a near-term high-interest-rate regime in the U.S. In addition, traders resorted to booking profits from the sharp gains in recent trading sessions.
Front Month Comex Gold for September month delivery has moved lower by $37.40 (or 0.85%) to $4,381.00 per troy ounce.
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