Gold prices stabilize after US pause in strikes on Iran
Kyiv • UNN
The price of gold rose to $4427 per ounce after nine days of decline. The market reacted to a five-day postponement of US attacks on Tehran's energy facilities.
Global gold prices have stabilized after sharp fluctuations earlier this week. Investors are reacting to the US decision to postpone strikes on Iran's energy infrastructure. This is reported by Bloomberg, writes UNN.
Details
At the start of trading, gold held above $4,400 an ounce, partially recovering previous losses. Earlier, prices fell by almost 2% and continued to decline for nine consecutive days – the longest streak since 2023.
Gold plummets and hovers around $4500 amid escalating Middle East war23.03.26, 02:35 • 16435 views
As of this morning, the spot price rose by 0.5% to $4,427.76 per ounce. Silver, platinum, and palladium also became more expensive.
Geopolitical Impact
Markets reacted to US President Donald Trump's statement about a five-day postponement of possible strikes and "productive talks" with Iran. At the same time, Tehran denies the fact of such negotiations.
Despite the pause, uncertainty regarding the situation in the Strait of Hormuz and the consequences for energy infrastructure remains.
Factors Pressuring Gold
The war in the Middle East maintains high energy prices and increases inflation risks. This raises the likelihood of central bank rate hikes, which traditionally negatively affects gold.
In addition, some investors are selling gold to obtain liquidity amid financial market instability.