Gold Prices Jump Nearly 1% as Markets Focus on US-Iran Negotiations
Gold prices rebounded from recent losses on Tuesday, rising nearly 1% as financial markets remained clouded by uncertainty surrounding ongoing US-Iran negotiations.
The precious metal had fallen sharply in the previous session after reports suggested that Iran had suspended peace talks with the United States in response to escalating Israeli military actions in Lebanon. The development intensified fears of a prolonged conflict in the Middle East, boosting demand for safe-haven assets.
Spot gold climbed 0.9% to $4,524.51 per ounce as of 08:43 WIB, while gold futures gained 1.1% to $4,553.70 per ounce.
US-Iran Peace Talks Remain Unclear
Markets remain uncertain over whether the United States and Iran have officially resumed negotiations aimed at securing a potential peace agreement.
US President Donald Trump delivered mixed signals regarding the talks. Earlier, Trump stated that he did not care if Iran had withdrawn from negotiations. However, he later claimed that discussions between Washington and Tehran were still ongoing and expressed optimism that a deal to extend the ceasefire and reopen the Strait of Hormuz could be reached within the next week.
A partial ceasefire agreement between Lebanon’s Hezbollah group and Israel provided limited relief to investors, especially after Iran repeatedly demanded that Lebanon be included in any ceasefire arrangement.
Despite this, the lack of clarity surrounding US-Iran negotiations continued to fuel uncertainty across global markets. Concerns that a prolonged conflict could drive inflation higher and keep interest rates elevated have weighed heavily on gold prices since tensions between the US and Iran intensified.
Silver and Platinum Also Recover
Other precious metals also posted strong gains on Tuesday as they recovered from recent declines.
Spot silver rose 2.2% to $76.5275 per ounce, while spot platinum advanced 1.8% to $1,963.58 per ounce.