Gold slips as fading US-Iran peace prospects reinforce Fed rate-hike bets

Spot gold slipped 0.6 percent to about 3,981 dollars per ounce after hitting a multi-month low, as Iran ruled out talks with senior US envoys and Cleveland Fed President Beth Hammack kept the door open for higher interest rates. Traders are now pricing in roughly a 67 percent chance of a US rate hike in September, weighing on bullion. Silver, platinum, and palladium also traded lower, with silver down 0.9 percent near 58 dollars an ounce.