Breaking News! Trump officially announced that Middle East peace is progressing smoothly, and gold's safe-haven halo suddenly dimmed.
2025-10-09 08:52:03
U.S. President Donald Trump said on Wednesday (October 8) that a deal between Israel and Hamas to end the conflict in the Gaza Strip was "very close" and indicated he might travel to the region this weekend. "Our last negotiation partner was Hamas, and the negotiations seemed to be going very well," Trump said at a White House roundtable.
"I may be traveling to the region later this week," he said, noting that travel plans were still uncertain and he could depart on Saturday night or Sunday. "We'll see, but there's a good chance that the negotiations will go smoothly."
An announcement of a deal appears imminent, judging by a photo taken by an Associated Press photographer at the White House. The photo captures a note from Secretary of State Marco Rubio handing the president that reads in part: "Very close. Need your quick approval for a Truth Social post to be first to announce the deal."
The note prompted Trump to declare on the spot: "We are very close to making a Middle East deal."
On Thursday morning, Trump posted on social media: "I am very proud to announce that Israel and Hamas have signed the first phase of our peace plan. This means that all hostages will soon be released and Israeli troops will withdraw to the mutually agreed lines. This is the first step towards a strong, lasting and everlasting peace. All parties will be treated justly! This is a great day for the Arab and Muslim world, for Israel, for all neighboring nations, and for the United States of America. We thank the mediators from Qatar, Egypt, and Turkey for their collaboration in facilitating this historic and unprecedented event. Blessed are the peacemakers!"
Israeli Prime Minister Benjamin Netanyahu responded on social media: "By the grace of God we will bring all the hostages home." Hamas said in a separate statement that the agreement would ensure the withdrawal of Israeli troops while allowing aid supplies to enter and personnel exchanges to be implemented.
Sources familiar with the matter told the Associated Press that Hamas plans to release all 20 surviving hostages this weekend, and the Israeli military will begin withdrawing from most of Gaza simultaneously. It's unclear whether the two sides have made progress on more thorny issues such as the future course of the conflict, including Hamas's disarmament as demanded by Trump and long-term governance plans for the war-torn territory. However, the agreement still marks the most significant progress since the hostage swap agreement reached in January and February of this year.
The deal was finalized in Egypt after days of negotiations over a peace plan backed by Trump, which he hopes will lead to a permanent ceasefire and sustainable peace in the region.
This development comes shortly after Trump's chief negotiator, Special Envoy Steve Witkoff, and his son-in-law, Jared Kushner, concluded their first day of talks in Egypt with both sides and Arab partners. The negotiations, held in the Red Sea town of Sharm el-Sheikh, began on Monday after Hamas responded generally positively to Trump's 20-point Gaza peace plan, which he unveiled last week after meeting and securing the approval of Israeli Prime Minister Benjamin Netanyahu at the White House.
If approved, the plan would signify a hostage and prisoner exchange between Israel and Hamas and end the two-year Gaza conflict, sparked by the October 7, 2023, terrorist attack on Israel. Under the plan, the final details of which are still being finalized, Hamas would disarm and relinquish control of the Gaza Strip, which would be governed in the short term by an international trusteeship overseen by the United States and its Arab allies.
This geopolitical development is expected to put significant short-term downward pressure on gold prices.
Gold's safe-haven properties will weaken as the conflict eases, and market funds may flow out of the gold market and turn to riskier assets.
Trump went from saying "very close" to officially "proudly announcing" the agreement; Prime Minister Netanyahu and Hamas both issued statements confirming the agreement. This isn't market speculation, but confirmation from the highest levels of decision-making, highly credible. This significantly reduces uncertainty and is a classic "risk-on" signal. It is expected to have a strong bearish impact on gold prices.
The market needs to closely monitor the subsequent implementation of the agreement, particularly negotiations on thorny issues such as Hamas disarmament. Any setbacks or setbacks in implementation could quickly reignite risk aversion and cause a rebound in gold prices. However, current information suggests that gold prices are facing clear short-term downward pressure.
In the early Asian session on Thursday (October 9), spot gold fluctuated and weakened, falling nearly 1% to around the 4,000 mark at one point, hitting a low of $4,001.33 per ounce, but was quickly supported by bargain hunting and rebounded above $4,020.
At 08:50 Beijing time, spot gold was trading at $4021.12 per ounce.
"I may be traveling to the region later this week," he said, noting that travel plans were still uncertain and he could depart on Saturday night or Sunday. "We'll see, but there's a good chance that the negotiations will go smoothly."
An announcement of a deal appears imminent, judging by a photo taken by an Associated Press photographer at the White House. The photo captures a note from Secretary of State Marco Rubio handing the president that reads in part: "Very close. Need your quick approval for a Truth Social post to be first to announce the deal."
The note prompted Trump to declare on the spot: "We are very close to making a Middle East deal."
On Thursday morning, Trump posted on social media: "I am very proud to announce that Israel and Hamas have signed the first phase of our peace plan. This means that all hostages will soon be released and Israeli troops will withdraw to the mutually agreed lines. This is the first step towards a strong, lasting and everlasting peace. All parties will be treated justly! This is a great day for the Arab and Muslim world, for Israel, for all neighboring nations, and for the United States of America. We thank the mediators from Qatar, Egypt, and Turkey for their collaboration in facilitating this historic and unprecedented event. Blessed are the peacemakers!"
Israeli Prime Minister Benjamin Netanyahu responded on social media: "By the grace of God we will bring all the hostages home." Hamas said in a separate statement that the agreement would ensure the withdrawal of Israeli troops while allowing aid supplies to enter and personnel exchanges to be implemented.
Sources familiar with the matter told the Associated Press that Hamas plans to release all 20 surviving hostages this weekend, and the Israeli military will begin withdrawing from most of Gaza simultaneously. It's unclear whether the two sides have made progress on more thorny issues such as the future course of the conflict, including Hamas's disarmament as demanded by Trump and long-term governance plans for the war-torn territory. However, the agreement still marks the most significant progress since the hostage swap agreement reached in January and February of this year.
The deal was finalized in Egypt after days of negotiations over a peace plan backed by Trump, which he hopes will lead to a permanent ceasefire and sustainable peace in the region.
This development comes shortly after Trump's chief negotiator, Special Envoy Steve Witkoff, and his son-in-law, Jared Kushner, concluded their first day of talks in Egypt with both sides and Arab partners. The negotiations, held in the Red Sea town of Sharm el-Sheikh, began on Monday after Hamas responded generally positively to Trump's 20-point Gaza peace plan, which he unveiled last week after meeting and securing the approval of Israeli Prime Minister Benjamin Netanyahu at the White House.
If approved, the plan would signify a hostage and prisoner exchange between Israel and Hamas and end the two-year Gaza conflict, sparked by the October 7, 2023, terrorist attack on Israel. Under the plan, the final details of which are still being finalized, Hamas would disarm and relinquish control of the Gaza Strip, which would be governed in the short term by an international trusteeship overseen by the United States and its Arab allies.
This geopolitical development is expected to put significant short-term downward pressure on gold prices.
Gold's safe-haven properties will weaken as the conflict eases, and market funds may flow out of the gold market and turn to riskier assets.
Trump went from saying "very close" to officially "proudly announcing" the agreement; Prime Minister Netanyahu and Hamas both issued statements confirming the agreement. This isn't market speculation, but confirmation from the highest levels of decision-making, highly credible. This significantly reduces uncertainty and is a classic "risk-on" signal. It is expected to have a strong bearish impact on gold prices.
The market needs to closely monitor the subsequent implementation of the agreement, particularly negotiations on thorny issues such as Hamas disarmament. Any setbacks or setbacks in implementation could quickly reignite risk aversion and cause a rebound in gold prices. However, current information suggests that gold prices are facing clear short-term downward pressure.
In the early Asian session on Thursday (October 9), spot gold fluctuated and weakened, falling nearly 1% to around the 4,000 mark at one point, hitting a low of $4,001.33 per ounce, but was quickly supported by bargain hunting and rebounded above $4,020.
At 08:50 Beijing time, spot gold was trading at $4021.12 per ounce.
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