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Gold drifts lower below $4,750 amid Trump’s extension of a ceasefire with Iran

Gold price (XAU/USD) trades in negative territory near $4,730 during the early Asian session on Thursday. The precious metal declines as traders remain cautious over US-Iran peace talks to end the nearly two-month war that has intensified global inflation concerns.

🔗 Source

💡 DMK Insight

Gold’s dip near $4,730 signals a cautious market amid US-Iran tensions. With ongoing peace talks, traders are weighing the potential for stability against rising inflation fears. The geopolitical backdrop is critical; if negotiations falter, we could see a surge in gold demand as a safe haven. Watch for key support around $4,700—if breached, it might trigger further selling. Conversely, if talks yield positive results, gold could face downward pressure as risk appetite increases. Keep an eye on inflation indicators and market sentiment, as they could sway gold’s trajectory in the coming days. The real story is how these developments could ripple through related assets like silver and oil, both of which often react to geopolitical shifts. So, monitor those correlations closely as we navigate this uncertain landscape.

📮 Takeaway

Watch for gold’s support at $4,700; a break could signal further declines, while positive US-Iran talks might shift sentiment towards riskier assets.

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