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.