Gold Heads for Weekly Gain as Markets Weigh Iran Truce

Gold prices were on track for a third consecutive weekly gain as investors balanced optimism over a potential Iran deal with ongoing inflation concerns, according to Bloomberg News.

Despite recent gains, gold has declined roughly 10% since the conflict began.

Bullion hovered near $4,770 per ounce, supported by central bank buying and a weaker US dollar. Attention has shifted to negotiations in Islamabad, where US officials led by Vice President JD Vance are expected to meet Iranian counterparts.

President Donald Trump expressed optimism about ending the conflict but also warned Iran against imposing fees on ships passing through the Strait of Hormuz.

Meanwhile, continued tensions, including Israeli strikes in Lebanon, have threatened the fragile ceasefire.

Despite recent gains, gold has declined roughly 10% since the conflict began, as some investors sold holdings to cover losses in other markets.