Gold Trims Gains as Dollar Strengthens Amid Uncertainty Over U.S.–Iran Peace Talks
Gold prices reduced part of their earlier gains on Thursday as the U.S. dollar moved higher, while optimism surrounding a potential peace agreement between the United States and Iran began to fade due to mixed signals from Tehran. Investor sentiment was also pressured by reports that Washington may restart operations to escort commercial vessels through the Strait of Hormuz.
Spot gold rose about 0.3% to $4,705.76 per ounce, while gold futures climbed 0.4% to $4,714.84 per ounce. Despite the gains, both contracts pulled back from their recent two-week highs.
In the previous session, gold had surged more than 3%, marking its strongest daily advance since late March, as oil prices plunged and expectations grew that tensions in the Middle East could ease. However, markets are now pausing as traders await clearer signals on diplomatic developments between Washington and Tehran.
Reports indicate that both sides are working with mediators on a one-page framework outlining key terms to resume negotiations toward a lasting peace deal. Talks are expected to begin next week in Pakistan, focusing on issues such as nuclear enrichment and sanctions relief, although significant differences remain unresolved.
Meanwhile, messaging from Iran has been inconsistent. State media said the U.S. proposal is still under review, while other officials described the plan as largely reflecting American demands. In addition, Iran has reportedly introduced new requirements for tankers transiting the Strait of Hormuz, obliging them to submit specific documentation, adding further uncertainty to energy and precious metals markets.
Source : Newsmaker.id
