Bullion was near US$4,075 an ounce in early trading, after advancing 0.6% on Monday. (July 28): Gold held a gain after President Donald Trump said the US and Iran were in talks to end the war that's stoked inflationary concerns and raised the likelihood of higher interest rates. Bullion was near US$4,075 an ounce in early trading, after advancing 0.6% on Monday. Oil extended a drop on Tuesday after Washington held off attacking Iran for a third straight day. The Bloomberg Dollar Spot Index, a gauge of the US currency, rose marginally after ending the earlier session little changed.