US-Iran Ceasefire Doubts Keep Gold Prices Stable Amid Market Caution

Gold prices demonstrated remarkable stability as persistent doubts about a potential US-Iran ceasefire kept investors cautious.

Spot gold traded within a narrow range of $2,150 to $2,180 per ounce.

Al Jazeera

Diplomatic sources reported ongoing negotiations between US and Iranian officials, but significant disagreements persisted.

Market participants adopted a wait-and-see approach, preventing substantial capital flows.

The 50-day moving average provided strong support around $2,140 per ounce.

Oil prices rebounded as doubts about the US-Iran ceasefire grew.

Brent crude rose around 2-3 percent to near $97 per barrel.

Al Jazeera

The Strait of Hormuz was largely closed despite US demands for reopening.

Gulf countries faced a significant wave of attacks since the ceasefire took place.

The pumping station on Saudi Arabia's East-West Pipeline was also struck.

European stocks opened higher but struggled for direction amid the fragile ceasefire.

“Two‑week US‑Iran ceasefire pauses war; “who won”

Al Jazeera

The FTSE 100 was seen opening 0.2% higher.

Asian markets rose overnight, with South Korea's Kospi advancing 1.75%.

Japanese Prime Minister announced plans to release 20 days' worth of oil reserves.

The Bank of England held its key interest rate at 3.75 percent.

Asian financial markets experienced a significant uplift as regional currencies rallied sharply.

The South Korean won and Thai baht led the advance, each appreciating over 1.2%.

BBC

The Reserve Bank of New Zealand held its official cash rate steady at 5.50%.

Most economists expect a shift in policy stance from withdrawal to neutral.

The Asia FX rally signals a potential recalibration of global capital flows.