Gold prices stabilized after reports of initial progress in negotiations between the US and Iran to resolve the conflict, which has significantly impacted global markets and the energy sector in recent months. This is reported by Bloomberg, writes UNN.
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The price of gold held near the $4,190 per ounce mark after rising nearly 1% in the previous trading session. This broke a three-day decline in the precious metal's quotes.
US Vice President JD Vance said the talks with Iran, which took place over the past weekend, were "very, very good." At the same time, the Iranian side also reported some progress in the dialogue.
US and Iran agree on new steps for shipping safety
One of the results of the negotiations was the creation of a communication channel between Tehran and Washington to ensure the safe passage of vessels through the Strait of Hormuz.
In addition, the US issued a 60-day license allowing Iran to sell certain volumes of oil on the international market.
Against this backdrop, oil quotes also showed stabilization after a previous decline.
As of the morning in Singapore, the spot price of gold was $4,191.27 per ounce. Silver traded at $65.05 per ounce, while platinum and palladium prices were nearly unchanged. The Bloomberg Dollar Index also fell slightly.
Oil prices fell more than 3% after progress in US-Iran negotiations23.06.26, 01:25