Gold Slides 0.6% as Iran Rejects Ceasefire

Gold spot fell 0.6% to $4,650.56/oz and futures slipped 0.1% to $4,676.20/oz after Iran rejected ceasefire.
President Trump reiterated a Tuesday 8 p.m. ET deadline for Iran to reopen the Strait of Hormuz, threatening infrastructure attacks.
The Strait closure has pushed crude prices up, stoking global inflation concerns and expectations of higher interest rates, pressuring gold.
Equity markets rose as traders priced in possible cease‑fire, with Interactive Brokers economist noting binary market moves.