Gold Steady, Markets Eye Trump's Iran Deadline
Gold prices held steady around $5,000 per ounce after strengthening for two consecutive sessions, as markets reassessed geopolitical risks in the Middle East. In morning trading in Asia, spot gold edged down 0.1% to $4,990.09/oz.
Safe-haven sentiment strengthened after US President Donald Trump stated that Iran only had about 10–15 days to reach a nuclear deal, as the US increased its military presence in the region—referred to as the largest deployment since the period leading up to the 2003 Iraq war. This development helped maintain the risk premium in energy markets, with oil prices holding at high levels in recent months.
Beyond geopolitics, the direction of US interest rates remains a key driver of gold. Uncertainty over the Fed's policy has made market participants more selective, as gold typically benefits when borrowing costs decline. The same report noted that comments by Fed officials reduced expectations of a deep rate cut this year, while the Bloomberg Dollar Spot Index was reported flat on the day but has risen about 0.8% over the week.
The gold market has also remained volatile since the major turmoil at the end of January. After briefly breaking a record above $5,595/oz, gold briefly corrected sharply, reflecting the fragility of speculative positions. However, several factors supporting the long-term trend are still considered to be in place, including investor diversification away from bonds and sovereign currencies.
From the corporate side, attention is also focused on Newmont, the world's largest gold producer, which estimates lower gold production this year due to planned upgrades and adjustments at several of its mining assets. In other metals markets, silver fell 0.7% to $77.99/oz, while platinum and palladium remained relatively stable.
Source: Newsmaker.id
