Gold steady as traders weigh ceasefire and US inflation
Spot gold held near 4,334 dollars per ounce on Tuesday as investors monitored a fragile ceasefire between Israel and Iran. Markets remain cautious ahead of May US inflation data while pricing in a high probability of a Federal Reserve rate hike by December.
Gold rose 0.1% to $4,333.91 per ounce on Tuesday morning as traders monitored a fragile ceasefire between Israel and Iran. The metal touched a two-month low during the previous session. Investors are weighing geopolitical stability against hawkish interest rate projections from the United States.
### Geopolitical Skepticism Caps Bullion Gains Iran and Israel halted mutual attacks on Monday following an appeal from the White House. Tehran warned it would resume hostilities if Israel targets Hezbollah in Lebanon.
