Gold is declining to the lowest level in two weeks

Gold fell to the lowest level in about two weeks, today, after US President Donald Trump announced that Iran and Israel agreed to a ceasefire to end the 12 -day conflict, which reduced the demand for the metal as a safe haven.

Gold fell in instant transactions 0.6 percent to $ 3349.89 an ounce by 00:30 GMT, after he recorded its lowest level since June 11.

US gold futures fell 0.9 percent to $ 3364.20.

Trump wrote on the Truth Social platform that the ceasefire is “complete and comprehensive” between Israel and Iran will enter into force within 12 hours, and then the war will be considered “ended.”

A senior White House official said that Trump mediated the agreement yesterday, during a telephone conversation with Israeli Prime Minister Benjamin Netanyahu, while his team was communicating with Iranian officials.

The official, who asked not to be identified, stated that Israel agreed to the truce, provided that Iran does not launch more attacks.

The official added that Iran indicated that it would adhere to the agreement.

As for other precious metals, silver increased in instant transactions 0.1 percent to $ 36.03 an ounce, platinum decreased 0.3 percent to $ 1260.78, and palladium fell 0.1 percent to $ 1043.