Gold fell below $4,500 per ounce on Thursday, erasing gains from the previous two sessions as conflicting statements from the US and Iran regarding potential peace talks continue to disrupt financial markets. Washington has maintained that negotiations are ongoing, with the Trump administration reportedly sending a 15-point proposal to Iran through Pakistan aimed at resolving the conflict and reopening the Strait of Hormuz. However, Iran has stated it has no intention of holding talks with the US and will reject the US ceasefire offer, instead setting its own conditions including sovereignty control over the strategic waterway. The US has also ordered thousands of troops to the Middle East, heightening concerns about a possible ground invasion. Gold has faced intense selling pressure this month due to rising energy prices linked to disruptions caused by the Iran conflict, sparking inflation fears and prompting a hawkish shift among major central banks.