Gold Holds Above $4,450 on Friday as U.S.-Iran Talks Show Mixed Signals

XAUUSD-3.06%
On Friday, June 5, gold remained stable above $4,450 per ounce, extending gains from the previous session amid market hopes for a diplomatic resolution between the U.S. and Iran to end conflict and reopen the Strait of Hormuz. President Trump stated that peace negotiations are near completion, and he remains unwilling to engage in full-scale war with Iran despite recent tensions. However, Iran's Foreign Minister Abbas Araghchi indicated that talks have made no substantive progress. Hezbollah, backed by Iran, also rejected a U.S.-brokered ceasefire proposal between Israel and Lebanon, casting doubt on Trump's efforts to end regional hostilities. Persistent conflict in the Strait of Hormuz and disrupted energy transportation have driven oil prices higher, intensifying concerns over inflation and rising interest rates.
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