Gold Holds Decline as Peace Talks Stall

2026-04-21 23:47 By Jam Kaimo Samonte 1 min. read

Gold held below $4,750 an ounce on Wednesday after dropping more than 2% in the previous session, as plans for a second round of US-Iran peace negotiations collapsed, although President Donald Trump extended the ceasefire.

Reports indicated Vice President JD Vance canceled a planned trip to Islamabad for talks after Tehran informed the US via Pakistan that it would not take part in the meeting.

Iran also stated it would not reopen the Strait of Hormuz while the US Navy continues intercepting vessels.

Meanwhile, Trump said he would delay further strikes until Iran presents a new proposal and negotiations are concluded.

Gold is currently down roughly 10% since the conflict began.

The metal also faced additional pressure from the Senate confirmation hearing of Federal Reserve Chair nominee Kevin Warsh, who pledged to act independently.

He called for a new framework to address persistent inflation but did not provide further specifics.



News Stream
Gold Holds Decline as Peace Talks Stall
Gold held below $4,750 an ounce on Wednesday after dropping more than 2% in the previous session, as plans for a second round of US-Iran peace negotiations collapsed, although President Donald Trump extended the ceasefire. Reports indicated Vice President JD Vance canceled a planned trip to Islamabad for talks after Tehran informed the US via Pakistan that it would not take part in the meeting. Iran also stated it would not reopen the Strait of Hormuz while the US Navy continues intercepting vessels. Meanwhile, Trump said he would delay further strikes until Iran presents a new proposal and negotiations are concluded. Gold is currently down roughly 10% since the conflict began. The metal also faced additional pressure from the Senate confirmation hearing of Federal Reserve Chair nominee Kevin Warsh, who pledged to act independently. He called for a new framework to address persistent inflation but did not provide further specifics.
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Gold prices fell toward $4,700 an ounce on Tuesday, the lowest level in about a week, pressured by a stronger dollar as investors weighed uncertainty around US–Iran talks and the Senate confirmation hearing of Federal Reserve Chair nominee Kevin Warsh. It remains unclear whether Iran will join the US for a second round of negotiations ahead of Wednesday’s ceasefire deadline, while the Strait of Hormuz continues to be largely shut. Meanwhile, rising oil prices have reignited inflation concerns, lifting both the dollar and Treasury yields and weighing further on bullion. In addition, Kevin Warsh advocated a new framework for the Fed to deal with persistent inflation, while failing to offer further details. Since the start of the Iran conflict, gold has dropped more than 8%, as geopolitical risks are offset by resilient US consumer activity and the Fed’s cautious policy stance.
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