Prices stabilized gold Significantly today, Tuesday, after it rose to the highest level in more than a week in the previous session, with investors awaiting more details about the agreement between… US andIran.
Gold rose in instant transactions by 0.2% to $4,315.87 per ounce, by 02:31 GMT, after rising 3.6% yesterday, Monday, to the highest level since June 5.
US gold futures for August delivery fell 0.3% to $4,337.10.
Gold bars of different values in a safe deposit room in Munich, Germany (Reuters)
The American President announced Donald Trump Yesterday, Monday, an initial agreement was signed between the United States and Iran to end the war in… GulfBut the details will be revealed later, and both countries said that a permanent ceasefire has not yet been negotiated.
“Gold prices have seen a good rise since late Thursday thanks to the news about Iran,” said Edward Mayer, an analyst at Marex. “I think this euphoric rally may continue for a few more days and culminate in the signing ceremony on Friday.”
And he settled down Dollar Near 10-day lows.
Investors are awaiting the Federal Reserve’s monetary policy decision.US Central Bank) And his statements on Wednesday, his first under the presidency Kevin WarshWith widespread expectations of retention Interest rates Without change.
“Markets are not expecting any interest rate cuts this year,” Mayer said. “If Warsh signals the possibility of at least one cut later this year, the dollar could fall further and we could see another rally in gold.”
He added: “However, if it appears more inclined to tighten interest rates, gold may come under some pressure.”
According to the CME Group’s Fed Watch tool, traders reduced their expectations for raising US interest rates in December to 57% after the agreement with Iran, compared to about 70% last week.
Gold loses its appeal in light of rising interest rates because it is an asset that does not generate returns.
As for other precious metals, it decreased Silver In spot transactions, 1% to $69.29 per ounce, and fell Platinum 0.9% to $1751.55, and declined Palladium 1.6% to $1,327.27.
