Gold Extends Gains on Iran Hopes

2026-03-24 23:38 By Jam Kaimo Samonte 1 min. read

Gold climbed more than 2% toward $4,600 on Wednesday, extending gains from the previous session as hopes for an end to the prolonged Middle East conflict grew on reports that the US was pursuing talks with Iran.

Israeli media indicated that Washington was seeking a one-month ceasefire to enable negotiations, while the New York Times reported that the US had sent Iran a 15-point proposal to resolve the conflict.

This raised optimism even after President Donald Trump ordered the deployment of about 2,000 troops to the region, as the administration weighed options to ease Iran’s control over the Strait of Hormuz.

Gold has previously plunged as much as 25% from its March peak as elevated energy prices driven by the Iran war fueled inflation concerns and strengthened expectations that major central banks may raise interest rates this year.

Federal Reserve Governor Michael Barr said the central bank may need to keep rates elevated for some time to address inflation.



News Stream
Gold Extends Gains on Iran Hopes
Gold climbed more than 2% toward $4,600 on Wednesday, extending gains from the previous session as hopes for an end to the prolonged Middle East conflict grew on reports that the US was pursuing talks with Iran. Israeli media indicated that Washington was seeking a one-month ceasefire to enable negotiations, while the New York Times reported that the US had sent Iran a 15-point proposal to resolve the conflict. This raised optimism even after President Donald Trump ordered the deployment of about 2,000 troops to the region, as the administration weighed options to ease Iran’s control over the Strait of Hormuz. Gold has previously plunged as much as 25% from its March peak as elevated energy prices driven by the Iran war fueled inflation concerns and strengthened expectations that major central banks may raise interest rates this year. Federal Reserve Governor Michael Barr said the central bank may need to keep rates elevated for some time to address inflation.
2026-03-24
Gold Stuck at $4,400 as Middle East Risks, Fed Outlook Weigh
Gold traded near $4,400 per ounce on Tuesday, fluctuating between small gains and losses as Middle East uncertainty continued to drive market volatility. President Trump announced a delay in US strikes on Iran, citing "positive talks", a claim Tehran dismissed as "psychological warfare." However, reports suggested indirect negotiations may be underway. Adding to tensions, the Wall Street Journal revealed that Saudi Arabia and the UAE are nearing involvement in the conflict, while an Israeli official told CNN that a ceasefire is "out of reach" as Iran shows no willingness to concede. Israel’s Defense Minister vowed to "continue striking Iran with full force." The metal remained near its lowest level since January, down 25% from its March peak, as soaring energy prices intensified inflation fears. Markets now rule out Fed rate cuts in 2026, with traders bracing for further tightening from other major central banks.
2026-03-24
Gold Volatile on Mideast Uncertainties
Gold held above $4,400 per ounce on Tuesday, swinging between gains and losses amid heightened Middle East tensions as Iran denied holding talks with the US to end the conflict. Tehran dismissed President Donald Trump’s announcement as an attempt to influence financial markets while launching new attacks on US targets, with Israel also continuing strikes against Iran and Lebanon. On Monday, gold had staged a sharp intraday rebound after Trump postponed planned US strikes on Iranian energy infrastructure and claimed negotiations were underway. The outcome of any talks and the potential reopening of the Strait of Hormuz remain highly uncertain, keeping inflation risks elevated. Gold had fallen as much as 25% from its March peak as rising energy prices fueled inflation concerns and reinforced expectations of further interest rate hikes.
2026-03-24