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Gold rises as oil weakens after US extends ceasefire with Iran
Gold prices firmed on Wednesday as lower oil prices, following a U.S. extension of a ceasefire with Iran, eased fears of an inflation spike and prolonged high interest rates. Spot gold rose 0.9% to $4,754.89 per ounce, as of 0435 GMT, after falling to its lowest level since April 13 on Tuesday. US gold futures for June delivery gained 1.1% to $4,772.60.US President Donald Trump said he would indefinitely extend the ceasefire with Iran to allow for further peace talks, hours before it was set to expire. Trump’s announcement appeared to be unilateral, and it was not immediately clear whether Iran or the US ally ... (full story)
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Gold prices fell sharply after the latest ceasefire extension reduced demand for safe-haven assets, despite Iran failing to attend peace talks. While initial risk-off flows lifted oil and the US dollar, the muted follow-through suggests markets are increasingly confident that geopolitical risks have peaked, keeping risk appetite broadly supported. A mild ...
Two cargo ships were attacked in the strategically vital Strait of Hormuz, authorities said Wednesday, after the U.S. extended the ceasefire and as diplomats seek to bring the U.S. and Iran together for peace talks. A vessel reported being fired upon about eight nautical miles off the coast of Iran, the United Kingdom Maritime Trade Operations, or UKMTO, ...
