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2026-04-08 14:57:25
[US-Iran Ceasefire Agreement Reaches Gold Prices to Three-Week High Above $4800] 1. Trump agreed to a two-week ceasefire with Iran hours before the deadline, easing market concerns about energy price-driven inflation. Gold prices climbed to a near three-week high on Wednesday, with spot gold rising as much as 3.22% to $4856.93. It has since retreated slightly to around $4820, a gain of approximately 2.4%. 2. Trump stated that Washington had received Iran's 10-point proposal as a viable basis for negotiations. Iran's Supreme National Security Council stated that negotiations with the US would begin on Friday in Islamabad, but added that negotiations did not signify the end of the war. 3. ABC Refinery's global head of markets stated that market participants had initially considered the possibility of escalation extremely high, and the ceasefire announcement overturned this expectation, which is positive for gold prices. Independent precious metals traders pointed out that the 200-day moving average around $4920 and $5000 are key resistance levels. 4. Since the outbreak of the Iran-Iraq War on February 28, gold prices have still fallen by more than 9%. Investors should pay attention to the minutes of the Federal Reserve's March meeting, which will be released later today. Although gold is generally considered an inflation hedge, its appeal diminishes in a high-interest-rate environment.
