COMEX Gold Holds Steady at $4,570 as US-Iran Talks Remain Uncertain on May 18

According to Guangda Futures commentary, COMEX gold held steady on May 18, closing at $4,570.8 per troy ounce with a gain of 0.20%, while Shanghai gold futures rose 0.04% to 998.12 yuan per gram. The precious metals market faced uncertainty as US-Iran negotiations stalled: President Trump initially ruled out concessions to Iran and threatened military strikes, but later reversed course, citing ongoing serious talks and expectations from Qatar, Saudi Arabia, and UAE leaders that an agreement would be reached confirming Iran’s nuclear restrictions.

Gold faces headwinds from three factors: persistent US inflation threats despite economic resilience, uncertainty around incoming Federal Reserve Chair Walz’s policy stance, and fragile US-Iran ceasefire prospects with unresolved Strait of Hormuz tensions. Prices remained subdued, trading below $4,575.