Gold miners hit as price falls following news of Israel-Iran ceasefire

  • The price of gold dropped 1.2% to a two-week lows below $3,320 after Israel and Iran agreed a ceasefire, following 12 days of fighting.  Gold has fallen around 2% over the past week, after gaining from safe haven demand in the past week amid an escalation of hostilities and missile strikes, culminating with US intervention in the form of 'bunker buster' bombs dropped on Iran's nuclear facilities over the weekend.