Gold Holds Ahead of Resumed Talks
Gold prices held steady in early trading on Friday (February 27th), holding around $5,185 per ounce, as the market assessed the decision by the US and Iran to extend nuclear talks. Although diplomatic channels remain open, investors remained defensive as the risk of conflict in the Middle East has not completely subsided.
Gold bullion traded near $5,185 after rising 0.4% in the previous session and remained on track for a weekly gain. Omani mediators stated that negotiations on Thursday made "significant progress" and opened the door for further talks next week. However, sources familiar with the US position said the American delegation left the meeting disappointed with the progress made—keeping the market sensitive to potential changes in direction.
US-Iran tensions have been a key driver of safe-haven demand. The standoff over Iran's nuclear activities has been accompanied by mutual threats, while President Donald Trump has ordered a substantial military buildup in the region. This combination has kept the risk premium alive and helped support gold's rally in recent days.
At 7:27 a.m. Singapore time, the spot gold price was stable at $5,185.75 per ounce. Silver fell 0.3% to $88.07, platinum weakened, and palladium strengthened. On the currency side, the Bloomberg Spot Dollar Index closed the previous session up 0.1%, indicating the dollar remains relatively resilient and limiting any potential for aggressive gold gains in the very short term. (alg)
Source: Newsmaker.id
