FX.co ★ Gold Steadies as US-Iran Talks Eyed

Gold held above $4,800 an ounce on Tuesday after coming under pressure in the previous session, as investors focused on a second round of US–Iran negotiations ahead of the expiration of their two-week ceasefire later this week. US Vice President JD Vance is expected to once again lead the American delegation in Pakistan, while Iran is reportedly preparing to send representatives as well, reversing earlier indications that it would not take part in further talks.

At the same time, President Donald Trump said he is unlikely to extend the current truce if no agreement is reached before it expires, adding that the Strait of Hormuz will remain closed until a deal is secured. The broader Middle East conflict has unleashed an historic energy supply shock, intensifying inflation risks and increasing the likelihood of further central bank rate hikes—factors that have pressured gold prices. The precious metal remains more than 8% lower since the onset of the Iran war.