24.03.202623:38:54UTC+00Gold Edges Higher on Iran Hopes

Gold rose above $4,500 on Wednesday, posting a second consecutive daily gain as hopes for an end to the protracted Middle East conflict increased amid reports that the United States is pursuing talks with Iran. Israeli media reported that Washington is seeking a one‑month ceasefire to facilitate negotiations, while the New York Times said the US has sent Tehran a 15‑point proposal aimed at resolving the conflict.

These developments bolstered sentiment even after President Donald Trump ordered the deployment of roughly 2,000 additional troops to the region, as his administration explored options to curb Iran’s influence over the Strait of Hormuz.

Gold has fallen as much as 25% from its March peak, pressured by elevated energy prices linked to the Iran war, which have intensified inflation concerns and reinforced expectations that major central banks could raise interest rates this year. Federal Reserve Governor Michael Barr signaled that the central bank may need to keep interest rates higher for an extended period to bring inflation under control.