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Gold Prices Stabilize as US-Iran Ceasefire Framework Takes Shape
Precious metals markets found stability on Monday following initial declines, buoyed by emerging reports that Washington, Tehran, and regional intermediaries are working toward a 45-day ceasefire arrangement. Spot bullion was trading near $4,655 per ounce at last check, recovering from an earlier session drop of as much as 1.6%. Futures contracts advanced 0.6% to reach $4,709 per ounce. Axios broke the ceasefire story, citing multiple individuals with direct knowledge of the ongoing discussions. Such an agreement could potentially restore access to the Strait of Hormuz, the critical maritime passage responsible for ... (full story)