Gold held above $4,700 on Friday and was on track for a third straight weekly gain, as the US-Iran ceasefire drove a sharp drop in oil prices, easing worries about a resurgence in inflation and the prospect of further interest rate hikes. The metal also benefited from a weaker dollar, which had emerged as the dominant safe-haven asset during the recent crisis. Markets now turn to diplomatic talks in Islamabad this weekend, where Vice President JD Vance will lead a US delegation in meetings with Iranian officials.
At the same time, Israeli Prime Minister Benjamin Netanyahu stressed that ongoing military operations in Lebanon fall outside the scope of the US-Iran ceasefire, even as Washington prepares to host additional talks next week with Israel and Lebanon aimed at advancing a broader truce. US President Donald Trump also issued a warning to Tehran over the imposition of transit fees in the Strait of Hormuz, criticizing Iran’s management of oil shipments through the key waterway.
