Gold and silver shine as Trump announces the suspension of attacks on Iran

Gold continued its gains today, as markets reassessed near-term risks after US President Donald Trump announced his agreement to suspend the bombing and attacks on Iran for two weeks, which allayed inflation fears linked to rising energy prices.

By 23:44 GMT, gold in spot transactions rose 2.3 percent to $4,811.66 per ounce, after rising 1.2 percent yesterday, Tuesday.

US gold futures for June delivery increased 3.3 percent to $4,840.20.

Trump said that he agreed to suspend bombing and attacks for two weeks and that the United States had received a ten-point proposal from Iran, which he described as a practical basis on which to negotiate.

As for other precious metals, silver rose in spot transactions by 4.3 percent to $76.08 per ounce, platinum increased by 2.4 percent to $2,004.95, and palladium rose by 2.1 percent to $1,500.