Gold Continues to Rise for the Fourth Week Amid Easing Tensions Between Iran and America

Stability of Gold Prices and Its Direction Towards Achieving Weekly Gains for the Fourth Time

The price of gold has stabilized significantly today, Friday, and is heading towards achieving gains for the fourth consecutive week, supported by hopes for a peace agreement between the United States and Iran, which has eased concerns related to rising inflation and the likelihood of continued increases in U.S. interest rates.

Recent geopolitical developments, along with diplomatic expectations, have also contributed to supporting investor appetite for the precious metal during this week's trading.

Spot Gold Prices and Futures Show Limited Movements with Weekly Gains

The price of gold in spot transactions rose by 0.1% to reach $4794.47 per ounce by 00:53 GMT.

The precious metal has increased by about 1% since the beginning of the week so far, while U.S. gold futures for June delivery rose by 0.2% to reach $4816.40 per ounce.

Ceasefire Between Lebanon and Israel Supports Stability in Metal Markets

A ten-day ceasefire between Lebanon and Israel came into effect a few hours ago, according to Reuters.

This development has helped calm geopolitical concerns in the region, which has indirectly reflected on the movement of precious metal markets, especially gold.

Anticipation of a U.S.-Iran Meeting Boosts Optimism in Global Markets

U.S. President Donald Trump stated that a new meeting between the United States and Iran might be held early next week, increasing optimism that the war with Iran may be coming to an end.

This trend has enhanced expectations of a decrease in inflationary pressures resulting from rising energy prices, which in turn supports gold prices in the short term.

Gold Decline Since the Start of the War Despite Recent Weekly Gains

Gold prices have fallen by more than 8% since the start of the Iran war in late February, due to concerns that rising energy prices could increase inflation and keep global interest rates at high levels.

Despite this cumulative decline, gold has returned to achieve weekly gains with improved geopolitical expectations.

Collective Rise of Other Precious Metals in Global Markets

Other precious metals recorded simultaneous increases during trading, where:

• Silver rose in spot transactions by 0.5% to reach $78.76 per ounce.
• Platinum increased by 0.3% to $2091.45 per ounce.
• Palladium rose by 0.3% to reach $1555 per ounce.