Spot gold, which had declined for nine consecutive sessions, is now stabilising at around USD 4,420 per ounce in international markets, supported by cautious optimism surrounding the Iran conflict, said Praveen Singh, Head of Commodities at Mirae Asset ShareKhan. He noted that US President Donald Trump had announced a five-day pause on strikes targeting energy infrastructure in Iran, lifting market sentiment slightly.
However, Singh pointed out that uncertainty persists over how effective the ceasefire will be, which is keeping investor sentiment guarded.
Analysts added that conflicting signals on the geopolitical front are expected to keep bullion prices volatile in the near term.
