Gold prices remained largely stable on Friday, heading toward a fourth consecutive weekly gain. Hopes for a peace agreement between the United States and Iran have eased concerns regarding surging inflation and further U.S. interest rate hikes.
اضافة اعلان
Spot Gold: Rose 0.1% to $4,794.47 per ounce, marking a 1% increase since the beginning of the week.
U.S. Gold Futures (June): Climbed 0.2% to $4,816.40.
Geopolitical Drivers
The market response follows significant diplomatic shifts:
Lebanon-Israel Truce: A ten-day ceasefire between Lebanon and Israel went into effect just hours ago.
Trump’s Optimism: U.S. President Donald Trump indicated that a new meeting between the U.S. and Iran could take place early next week, fueling optimism that the war with Iran may be nearing its conclusion.
Context and Market Reactions
Gold prices had previously dropped by more than 8% since the outbreak of the Iran war in late February. This initial decline was driven by fears that soaring energy prices would exacerbate global inflation, forcing central banks to keep interest rates high for a longer period.
Performance of Other Precious Metals:
Silver: Increased 0.5% to $78.76 per ounce.
Platinum: Gained 0.3% to $2,091.45.
Palladium: Rose 0.3% to $1,555.
Source: Reuters
