Cautious rise in markets: Ceasefire extended, gold recovers

Following US President Donald Trump's decision to extend the ceasefire with Iran, gold has recovered some of the losses it experienced in the previous session. Despite the continuation of the ceasefire, the inability to schedule a second round of peace talks has led to a continued cautious atmosphere in global markets.

Trump announced that additional attacks would be postponed until Iran presents a new proposal. This development provided limited support to gold, which is seen as a safe haven.

DIPLOMATIC CONTACTS STALLED

It was reported that US Vice President JD Vance canceled his visit to Islamabad after being informed that the Tehran administration would not participate in talks via Pakistan. This blockage in diplomatic channels indicated that geopolitical risks persist.

Iran, for its part, announced that it would not reopen the Strait of Hormuz as long as the US Navy's interventions continue.

ADDITIONAL PRESSURE FROM THE FED FRONT

Gold prices have declined by approximately 10 percent since the beginning of the conflict. Prices were also pressured by statements made in the Senate by Kevin Warsh, who has been mentioned as a candidate for the chairmanship of the US Federal Reserve. While Warsh stated that a new framework is needed to combat inflation, he did not provide details.

LIMITED RECOVERY IN OUNCE GOLD

Ounce gold started the day at 4,721 dollars. During the day, it saw a low of 4,715 dollars and a high of 4,765 dollars. It is currently trading at the 4,763 dollar level.

UPWARD MOVEMENT IN GRAM GOLD

Gram gold started the day at 6,812 liras. During the day, it tested a low of 6,811 liras and a high of 6,880 liras. It is currently finding buyers at 6,886 liras. In the Grand Bazaar, it is being sold at 6,927 TL.

News Source: 12punto