Gold slips to July low as oil jumps after Trump says Iran peace deal "over"

Gold prices fell and crude oil rallied after Donald Trump said a temporary U.S.-Iran peace agreement signed in June was "over" and he would not engage with Tehran. Iran's Islamic Revolutionary Guard Corps subsequently said it had attacked U.S. military bases in Bahrain and Kuwait. Spot gold dropped 1.02% on the day to $4,063.67 an ounce, its lowest level since July. Oil prices climbed more than 5%. Rate-hike expectations also strengthened, with markets putting the probability of a Federal Reserve rate increase in September at 66%.

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