Donald Trump · Iran · Strait of Hormuz · Federal Reserve (FED) · CNBC Technology
Gold steady as caution prevails ahead of Trump's Iran deadline
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Gold prices were little changed on Tuesday, as caution prevailed in the market ahead of U.S. President Donald Trump's looming deadline for Iran to reopen the Strait of Hormuz or risk devastating attacks on its infrastructure.
Key facts
- Among other metals, spot silver lost 2.7% to $70.83 per ounce, platinum shed 3.4% to $1,911.37 and palladium fell 4.3% to $1,421.75
- Spot gold was flat at $4,648.32 per ounce, after rising by 1% earlier in the session
- The gold market is treading water ahead of this evening's U.S.-imposed 8 p.m — It is on hold as traders wait to see what happens," said Jim Wyckoff, senior analyst at Kitco Metals
Summary
Gold prices were little changed on Tuesday, as caution prevailed in the market ahead of U.S. Spot gold was flat at $4,648.32 per ounce, after rising by 1% earlier in the session. "The gold market is treading water ahead of this evening's U.S.-imposed 8 p.m. Strikes on Iran intensified throughout the day, but Iran showed no sign of accepting Trump's ultimatum to open the Strait by the end of Tuesday. "Gold traders are more focused on what central banks might do with their interest rates than they are about geopolitics.