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Gold Prices Stabilize Amid Anticipation Of US-Iranian Negotiations
(MENAFN- The Peninsula)
QNA
Singapore: Gold prices stabilized on Thursday as investors remained cautious, awaiting clearer signals on ceasefire talks between the United States and Iran, ahead of key US inflation data due later today.
Spot gold was steady at $4,715.42 per ounce, while US gold futures for June delivery fell 0.8 percent to $4,739.20.
Gold has lost more than 10 percent in spot trading since the start of the US-Israeli war on February 28, as rising energy prices have exacerbated inflation concerns and dampened investor expectations of interest rate cuts.
As for other precious metals, silver fell 0.4 percent to $73.83 an ounce in spot trading, platinum lost 0.2 percent to $2,025.75, while palladium rose 0.3 percent to $1,559.29.
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