Gold Heads for Weekly Loss as U.S.-Iran Peace Deal Uncertainty Weighs

Gold prices fell on Friday, heading for a weekly loss as uncertainty surrounding a potential U.S.-Iran peace deal undercut safe-haven demand. The metal declined as investors weighed mixed signals from ongoing diplomatic talks, reducing appetite for bullion. Spot gold slipped 0.6% to $1,943.80 per ounce by mid-session, down 1.2% for the week. U.S. gold futures for August delivery settled 0.5% lower at $1,959.70 an ounce. The negotiations, which could ease decades of Middle East tensions, have left traders parsing contradictory statements from officials. A durable agreement would likely further depress gold by removing a key geopolitical risk premium, while a collapse in talks could swiftly reverse the trend.