FX.co ★ Gold Edges Higher as More US-Iran Talks Eyed

Gold rose to about $4,760 per ounce on Tuesday, rebounding from the prior session’s losses as both the US and Iran signaled a willingness to resume talks on securing a longer-term ceasefire before the current two-week truce expires. President Donald Trump said Tehran had reached out to Washington just hours after the US imposed a naval blockade on Iranian oil shipments through the Strait of Hormuz. Iranian President Masoud Pezeshkian likewise expressed readiness to continue peace negotiations, on the condition that they remain within the bounds of international law and regulations. Oil prices fell on hopes for a more durable agreement, easing inflation concerns and tempering expectations that central banks will keep interest rates unchanged or raise them further. Even with Tuesday’s gains, however, gold remains down roughly 10% since the conflict began.