FX.co ★ Gold Steady as US-Iran Talks Awaited

Gold prices were little changed around $4,700 an ounce on Monday, as investors adopted a cautious, wait-and-see stance ahead of a heavy slate of economic data and central bank meetings, and amid stalled US-Iran peace efforts. The metal closed last week down 2.5%, snapping a four-week winning streak. According to reports, Iran has submitted a new proposal to the United States aimed at reopening the Strait of Hormuz, following US President Donald Trump’s decision to cancel a planned visit by senior envoys to Islamabad for talks with Iranian officials over the weekend. The protracted deadlock has driven oil prices higher, intensifying inflation concerns and bolstering expectations that central banks may hold—or potentially even raise—interest rates to curb mounting price pressures. This week, major monetary authorities, including the Federal Reserve, are widely expected to leave rates unchanged, but markets will scrutinize any indications that policymakers are growing more alarmed about inflation risks linked to the US-Iran standoff.