Gold Prices Stable Amidst US-Iran Peace Deal Wait, Fed Policy Uncertainty

New York. Gold prices, which reached their highest point in a week in the last session, appeared almost stable in the market on Tuesday. Investors are awaiting further details of the peace agreement to be signed between the United States and Iran, which has prevented major fluctuations in prices. On Monday alone, gold prices rose by as much as 3.6 percent, reaching their highest point since June 5. On the international market on Tuesday, the price of spot gold increased by 0.2 percent per ounce to $4,315.87.

US President Donald Trump announced that a preliminary agreement has been signed between the US and Iran to end the conflict in the Gulf region. However, detailed information about this is yet to be made public, and both countries have stated that further negotiations are required for lasting peace. According to Marex analyst Edward Meir, gold prices have seen a good increase since last Thursday following news related to Iran, and this positive trend is likely to continue until the formal signing ceremony on Friday.