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Gold Hovers Around $4,000 Mark Amid Middle East Turmoil and Surging Oil Prices
The yellow metal continues trading around the $4,000 threshold as market participants weigh escalating global tensions against the possibility of elevated borrowing costs that could dampen demand for the safe-haven asset. Spot gold advanced 0.2% during Monday’s session, settling at $4,024.09 per ounce. Gold futures contracts similarly appreciated, reaching $4,028.32. These gains followed a weekly decline of more than 2% in the precious metal. Other precious metals also demonstrated strength, with silver climbing 1.8% to settle at $56.97 per ounce. Platinum registered a modest 0.2% increase, reaching $1,598.45. ... (full story)
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Senior Iranian Source: Mediators Have Proposed A 10-day Cessation Of Strikes To Find Ways To Revive The Iran-us Interim Deal
Iran confirms received proposals from mediators, says diplomatic channel still active Iran has received proposals from mediators, Foreign Ministry spokesman Esmaeil Baghaei said on Monday, amid continued tit-for-tat strikes between Iran and the United States. Baghaei made the remarks at a weekly press conference in Tehran without giving details, when asked whether he could confirm reports about new proposals by Qatar for the revival of U.S.-Iran negotiations and a 10-day ceasefire. Baghaei stressed that Iran's diplomatic apparatus remains active alongside its military responses to U.S. attacks, while condemning recent U.S. strikes against civilian infrastructure, including bridges and medical centers, as violating "people's rights to life, security and human dignity."
Gold is consolidating around the $4,000 psychological level after recovering from the recent low at $3,959. Price is trading close to the 20-hour moving average, while the 5 and 10-hour MAs have started to flatten, indicating a loss of bearish momentum and a neutral short-term outlook. Immediate resistance is located at $4,030, followed by $4,073. Initial ...