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Yashika Diwan
Prices of the safe-haven gold failed to sustain early-session gains following news that the U.S. will end Iran sanctions waivers.
for June delivery, traded on the Comex division of the New York Mercantile Exchange, were down 0.2%, at $1,275.45 per ounce by 1:33 AM ET (05:33 GMT).
White House has decided not to extend waivers for all oil buyers that previously allowed them to purchase of some Iranian crude, according to a statement.
The announcement stoked risk aversion and sent prices of the precious metal up initially.