GOLD REBOUNDS AFTER THE U.S. EXTENDS THE CEASEFIRE WITH IRAN
Spot gold rose 0.9% to $4,763.66 per ounce at 06:45 GMT, continuing to trade within the $4,700-$4,900 per ounce range that has held for the past two weeks.
Spot gold rose 0.9% to $4,763.66 per ounce at 06:45 GMT, continuing to trade within the $4,700-$4,900 per ounce range that has held for the past two weeks.
Gold prices slipped slightly on Monday after news that the Strait of Hormuz had been closed again sent oil prices sharply higher, reviving inflation concerns.
Gold prices climbed 2% on Tuesday as the U.S. dollar weakened, while expectations of renewed talks between the United States and Iran also helped support prices by easing inflation concerns.
Gold prices climbed to near a three-week high on Wednesday as markets began reassessing short-term risks after U.S. President Donald Trump agreed to pause attacks on Iran for two weeks. This move helped ease concerns over inflation linked to energy prices.
Gold started the new week on relatively weak footing, though it still managed to recover toward the $4,700 area, marking an intraday high during the first half of Monday’s European session.
Gold prices rose on Wednesday, reaching their highest level in nearly two weeks, supported by a weaker U.S. dollar after U.S. President Donald Trump said the conflict with Iran could come to an end within the next few weeks.
Gold prices edged higher during Monday’s Asian trading session after a week of strong volatility, as market attention remained focused on the possibility of further escalation in the U.S.–Israel conflict with Iran.
Gold prices rose during Wednesday’s Asian trading session, supported by a decline in oil prices and a mild weakening of the U.S. dollar. However, the upside remained somewhat limited as tensions in the Middle East showed no clear signs of easing. Spot gold climbed 2.5% to USD 4,600/oz at 03:45 ET, marking a notable rebound after the sharp sell-off seen in previous sessions.
Gold prices plunged more than 8% on Monday, falling to their lowest level of 2026 after just recording their worst weekly performance in roughly 43 years. The main driver was the escalating conflict in the Middle East, which has fueled inflation concerns and reinforced expectations that global interest rates will remain elevated for longer.
Gold prices continued to fall sharply despite rising geopolitical risks. During Thursday’s session, gold dropped to an intraday low of around USD 4,508 per ounce, marking a steep decline from its recent peak near USD 5,418 recorded in early March.