Gold, Silver Prices Plunge Over 2% as US-Iran Talks Progress, Dollar Strengthens

• Gold and silver prices dropped significantly on Tuesday, with gold falling over 2% in the international market.
• The decline is attributed to progress in US-Iran talks, shifting investor interest away from safe-haven assets.
• A stronger dollar also contributed to selling pressure on gold, making dollar-denominated metals more expensive.
• Spot gold fell 1.9% to $4,896.09 per ounce, while spot silver dropped 2.9% to $74.36 per ounce.
• Analysts suggest a lack of fresh bullish fundamentals and easing geopolitical tensions are negative for precious metals.