Abu dhabi: Gold prices held steady on Thursday as market players remained cautious about the direction of US-Iran ceasefire talks, with a key US inflation report due later in the day also in focus for interest rate clues. Spot gold was little changed at $4,713.79 per ounce, as of 0311 GMT. US gold futures for June delivery fell 0.8 percent to $4,736.50.
According to Emirates News Agency, the stability in gold prices reflects investor caution as the world watches for developments in the ongoing US-Iran negotiations. The talks are seen as pivotal in easing geopolitical tensions, which have historically influenced commodity markets. Market participants are also closely monitoring the upcoming US inflation report, expected to provide insights into future interest rate movements.
In addition to gold, other precious metals saw minor declines. Spot silver fell 0.5 percent to $73.71 per ounce, platinum lost 0.6 percent to $2,017.26, and palladium slid 0.4 percent to $1,549.18. These movements indicate a broader trend of cautious trading across the precious metals sector as investors await more definitive signals from both geopolitical developments and economic indicators.
