Gold prices have resumed their growth after a prolonged decline, reacting to reports of possible peace talks between the US and Iran. The market is simultaneously taking into account both diplomatic signals and further escalation in the region. This is reported by Bloomberg, writes UNN.
Details
At the start of trading, gold was worth about $4,480 per ounce after a 1.6% increase in the previous session.
The increase came after nine days of decline, amid instability in stock and bond markets, as well as dollar fluctuations. Other metals also showed growth: silver added about 0.6%, platinum and palladium also rose in price.
Iran and US factor
US President Donald Trump said that Iran offered a "gift" as a sign of goodwill in negotiations related to the situation around the Strait of Hormuz.
Trump stated that the US won the war against Iran24.03.26, 22:36
According to media reports, the parties are discussing the possibility of negotiations in the coming days, but are awaiting Tehran's response. At the same time, the US continues to build up its military presence – in particular, the deployment of about 2,000 troops is planned.
Rising energy prices due to the conflict increase inflationary risks, which puts pressure on financial markets. Some central banks are also considering selling gold to support their currencies.
Despite this, overall demand for gold remains high amid geopolitical uncertainty, which supports its price.
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