FX.co ★ Gold Holds Steady Amid Iran Deal Uncertainty

Gold held steady above $4,500 an ounce on Monday after a turbulent week, as diplomatic efforts to secure a longer-term ceasefire agreement between the US and Iran showed only limited progress. Over the weekend, Washington and Tehran exchanged proposals seeking revisions to a draft deal that would extend the ceasefire and reopen the Strait of Hormuz, but it remained unclear whether the talks were advancing toward a breakthrough. President Donald Trump again urged Iran to halt its nuclear program and fully restore the strait’s status as an open international waterway. Gold has come under pressure since late February, when the Middle East conflict sent energy prices sharply higher, intensifying concerns about inflation and the possibility of interest rate increases. Investors are now looking ahead to the latest US monthly jobs report due later this week, which could provide fresh insight into the strength of the labor market and the likely trajectory of Federal Reserve policy.