Gold Prices Hold Steady as US–Iran Talks Stall, Market Volatility Persists
Gold prices remained stable at around $4,400 per ounce on Friday (March 27), following a sharp decline in the previous session, as Donald Trump postponed the deadline for Iran to reach a peace agreement.
According to Trading Economics, Trump pledged not to target Iran’s energy facilities until April 6, offering temporary relief to markets shaken by nearly a month of geopolitical tensions. He also stated that Iran allowed 10 oil tankers to pass through the Strait of Hormuz this week as a “gesture” toward the United States.
However, uncertainty remains high. Iran confirmed it has rejected the 15-point proposal from the US to end the conflict, instead presenting its own conditions, including recognition of Tehran’s authority over the Strait of Hormuz.
On Thursday, gold prices dropped nearly 3%, reflecting ongoing skepticism over the likelihood of a near-term ceasefire agreement between the US and Iran.
Meanwhile, gold and other metals continue to face heavy selling pressure, as the prolonged Middle East conflict and rising energy prices fuel inflation concerns. This has also strengthened expectations that major central banks may raise interest rates later this year, further impacting precious metal demand.