Stability of “yellow metal” prices

Gold prices stabilized, today, after the ceasefire between Iran and Israel resulted in a lack of demand for safe haven, but the weakness of the dollar and the demand to seize opportunities after the decrease in gold in the previous session helped reduce losses.

Gold settled in instant transactions at $ 3326.39 an ounce by 00:42 GMT, after he recorded the lowest level in more than two weeks yesterday.

US gold futures rose 0.2 percent to $ 3340.

Iran and Israel announced yesterday, Tuesday, that their air war was stopped in the wake of public reprimand by US President Donald Trump because of their violation of the ceasefire, which he announced earlier that day.

The dollar index meat is near its lowest level in a week, making the gold -based gold more attractive to buyers abroad.

The US consumer confidence decreased unexpectedly in June, with the increasing concern of families about the availability of jobs and the increase in economic blurring due to the customs duties imposed by the Trump administration.

The head of the Federal Reserve (the US Central Bank), Jerome Powell, told members of Congress that high customs duties may begin to raise inflation this summer, which will be essential when the Federal Reserve is considered in a possible reduction in interest rates.

Traders currently expect the US Central interest rates to reduce 61 basis points during the year 2025 and be the first movement in September.

As for other precious metals, silver in instant transactions increased 0.1 percent to $ 35.94 an ounce, platinum decreased 0.2 percent to $ 1313.88, and palladium fell 0.2 percent to $ 1064.01.