Gold Prices Rise

 

Gold Prices Rise Friday Morning Supported by Extended US-Iran Ceasefire Talks

Gold prices moved higher in Friday morning trading (May 29, 2026), supported by reports that the United States and Iran have agreed to extend a temporary ceasefire while continuing negotiations aimed at ending the Middle East conflict.

As of 07:15 WIB, spot gold prices stood at US$4,498.77 per troy ounce, up 0.08% compared to the previous day’s level of US$4,495.29 per troy ounce.

According to Bloomberg, the United States and Iran have reportedly reached a temporary 60-day ceasefire agreement and are preparing for further discussions regarding Tehran’s nuclear program, based on information from a source familiar with the matter.

The agreement is still awaiting final approval from US President Donald Trump.

Gold prices gained momentum following the news, as investors closely monitored geopolitical developments in the Middle East. The precious metal is widely considered a safe-haven asset during periods of global uncertainty and political tension.

Despite the recent rebound, gold prices have declined nearly 15% since late February and have traded within a narrow range since the initial drop at the beginning of the conflict. Traders continue to evaluate mixed signals surrounding the progress of ceasefire negotiations and broader geopolitical risks.

Market participants are also watching for additional updates on US-Iran diplomatic talks, which could further influence gold price movements in the coming weeks.

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Gold Prices Rise

 

Gold Prices Edge Higher Amid Focus on US-Iran Peace Negotiations

Gold prices posted slight gains during early Asian trading on Wednesday as investors continued to monitor ongoing peace negotiations between the United States and Iran.

The precious metal has traded within a narrow range over the past 10 days as markets assess mixed signals surrounding the Iran conflict. Bullion prices briefly declined on Tuesday after the US military launched strikes on targets in southern Iran.

Spot gold climbed 0.2% to $4,518.06 per troy ounce as of 07:57 WIB, while gold futures advanced 0.3% to $4,550.32 per ounce.

Despite the modest rebound, spot gold remains trapped within a trading range between $4,400 and $4,600 per ounce over the last 10 days.

Concerns over the inflationary impact of the Iran conflict continue to weigh heavily on gold prices, especially after recent inflation data revealed energy-driven price increases during March and April.

The inflation outlook has fueled speculation that major central banks could raise interest rates in the coming months to combat rising prices — a development typically considered bearish for gold markets.

According to CME FedWatch data, markets are currently pricing in nearly a 40% probability that the Federal Reserve will increase interest rates in December.

Meanwhile, other precious metals showed mixed performance on Wednesday. Spot silver gained 0.2% to $77.1055 per ounce, while spot platinum fell 0.7% to $1,953.19 per ounce.

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Gold Futures Decline

 

Gold Futures Edge Lower During Asian Trading Session

Gold futures traded lower during Asian market hours on Tuesday as investors monitored the movement of the US dollar and broader commodity markets.

On the Comex division of the New York Mercantile Exchange, gold futures for August delivery were trading at $4,565.95 per troy ounce at the time of writing, down 0.21%.

Earlier in the session, gold prices touched an intraday low before recovering slightly. Analysts expect gold to find immediate support near $4,521.80, while resistance is seen around $4,615.50.

The US Dollar Index Futures, which measures the performance of the greenback against a basket of six major currencies, rose 0.12% to 99.04, adding pressure to precious metal prices.

Meanwhile, other metals on Comex also moved lower. Silver futures for July delivery declined 1.14% to $77.07 per troy ounce, while copper futures for July delivery dropped 0.97% to $6.41 per pound.

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