India, May 27 -- Extending the losses from yesterday's session, gold prices have slumped on Wednesday as traders watch the ongoing efforts to end the U.S.-Iran standoff with cautious optimism while the blockade on the Strait of Hormuz continues. The rising inflationary pressure weighed on gold and silver prices.
Front Month Comex Gold for June month delivery has tumbled by $57.80 (or 1.28%) to $4,444.50 per troy ounce.
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