Gold holds steady as US-Iran peace talks unresolved
Gold prices remained steady today amid uncertainty over peace negotiations between America and Iran and in anticipation of more details regarding the partial ceasefire between Hezbollah and Israel. There are concerns about inflation and interest rate hikes. The spot price of gold stood at $4,484.49 per ounce, while U.S. futures contracts increased by 0.2% to $4,514.30. Markets are awaiting upcoming U.S. employment data and statements from Federal Reserve officials to shape the monetary policy outlook, with holdings of the SPDR Gold Shares ETF decreasing to 938.03 tons.
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