Gold prices stabilized after a three-day rise amid statements about a possible ceasefire between the US and Iran. This is reported by Bloomberg, writes UNN.
Details
At the beginning of trading, the price of gold held at about $4765 per ounce after a 2.5% increase over three sessions. US President Donald Trump said he was “optimistic” about a deal, although the Strait of Hormuz remains partially blocked.
Key talks are expected to take place in Islamabad, where a US delegation led by Vice President J.D. Vance is to meet with the Iranian side. At the same time, tensions remain due to threats of new strikes and disputes over control of the strait.
Factors putting pressure on gold
Despite the short-term growth, since the beginning of the war, the price of gold has fallen by almost 10%. This is due to investors partially withdrawing from protective assets, covering losses in other markets.
Additional pressure is created by inflationary risks, which may force central banks to postpone rate cuts. As of this morning, the spot price of gold was about $4766 per ounce, other precious metals did not change significantly.
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