Gold Trims Losses After Trump Claims "Productive Talks" with Iran
Gold pared a significant portion of its losses on Monday as hopes for Middle East de-escalation rippled through markets. Still, the yellow metal remained under pressure amid expectations that the Iran war’s oil shock could keep interest rates higher for longer.
At 15:53 ET (19:53 GMT), spot gold (XAU/USD) was down 1.7% at $4,408.33/oz, after falling as much as 8.2% earlier in the session. Gold futures declined 3.6% to $4,444.81/oz. Platinum slid 5.2% to $1,868.15/oz, while spot silver (XAG/USD) bucked the broader trend, rising 1.9% to $69.0725/oz.
Gold’s rebound from the intraday low followed comments from U.S. President Donald Trump, who said Washington held “good and productive” talks with Iran and had ordered a temporary delay on planned strikes against Iranian power plants and energy infrastructure.
In a social media post, Trump said discussions over the past two days aimed at achieving a “complete and total resolution” to hostilities were “productive.” Based on the “tenor and tone” of the conversations—which he said would continue throughout the week—Trump said he instructed the Pentagon to postpone any and all military strikes against Iranian power plants and energy infrastructure for five days.
However, Iranian state media said Tehran has had no direct discussions with the United States. A foreign ministry spokesperson dismissed claims of any talks and said Iran’s position on the Strait of Hormuz and the “prerequisites for ending the war” remains unchanged.
Sumber : Newsmaker.id
