Gold rises as oil weakens after US extends ceasefire with Iran
Gold prices rose on Wednesday as lower oil prices, following a U.S. extension of a ceasefire with Iran, eased fears of an inflation spike and prolonged high interest rates.
Spot gold rose 1.1% to $4,762.22 per ounce, as of 0615 GMT, after falling to its lowest level since April 13 on Tuesday.
U.S. gold futures for June delivery gained 1.3% to $4,781.
U.S. President Donald Trump said he would indefinitely extend the ceasefire with Iran to allow for further peace talks, hours before it was set to expire.
Trump's announcement appeared to be unilateral, and it was not immediately clear whether Iran or U.S. ally Israel would agree to extend the ceasefire, which began two weeks ago.
Stocks gained, the dollar eased and oil prices turned lower following the ceasefire extension.
Spot silver rose 2.2% to $78.38 per ounce, platinum gained 2.1% to $2,079.64, and palladium was up 2.6% at $1,573.34.
Reuters
Gold prices rose on Wednesday as lower oil prices, following a U.S. extension of a ceasefire with Iran, eased fears of an inflation spike and prolonged high interest rates.
Spot gold rose 1.1% to $4,762.22 per ounce, as of 0615 GMT, after falling to its lowest level since April 13 on Tuesday.
U.S. gold futures for June delivery gained 1.3% to $4,781.
U.S. President Donald Trump said he would indefinitely extend the ceasefire with Iran to allow for further peace talks, hours before it was set to expire.
Trump's announcement appeared to be unilateral, and it was not immediately clear whether Iran or U.S. ally Israel would agree to extend the ceasefire, which began two weeks ago.
Stocks gained, the dollar eased and oil prices turned lower following the ceasefire extension.
Spot silver rose 2.2% to $78.38 per ounce, platinum gained 2.1% to $2,079.64, and palladium was up 2.6% at $1,573.34.
Reuters
Gold prices rose on Wednesday as lower oil prices, following a U.S. extension of a ceasefire with Iran, eased fears of an inflation spike and prolonged high interest rates.
Spot gold rose 1.1% to $4,762.22 per ounce, as of 0615 GMT, after falling to its lowest level since April 13 on Tuesday.
U.S. gold futures for June delivery gained 1.3% to $4,781.
U.S. President Donald Trump said he would indefinitely extend the ceasefire with Iran to allow for further peace talks, hours before it was set to expire.
Trump's announcement appeared to be unilateral, and it was not immediately clear whether Iran or U.S. ally Israel would agree to extend the ceasefire, which began two weeks ago.
Stocks gained, the dollar eased and oil prices turned lower following the ceasefire extension.
Spot silver rose 2.2% to $78.38 per ounce, platinum gained 2.1% to $2,079.64, and palladium was up 2.6% at $1,573.34.
Reuters
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Gold rises as oil weakens after US extends ceasefire with Iran
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