Global Gold Prices Stable as Market Participants Monitor US-Iran Peace Issues
NEW YORK, KOMPAS.com - Global gold prices tended to be stable at the end of trading on Thursday (16/4/2026) local time or Friday morning (17/4/2026) WIB, after previously reaching a one-month high.
Market participants are now monitoring developments in peace talks between the United States (US) and Iran and their impact on the direction of interest rates and global energy prices.
Citing Reuters, the spot gold price remained relatively unchanged at 4,785.57 US dollars per ounce. Meanwhile, US gold futures contracts closed down 0.3 percent at 4,808.30 US dollars per ounce.
Previously, gold prices were pressured in March after the US and Israel launched a war against Iran, which triggered concerns over rising inflation, tightening market liquidity, and the possibility that central banks would not lower interest rates.
However, hopes that the US and Iran can reach a peace agreement and end the conflict, which could lower energy prices and ease expectations of interest rate hikes, have driven gold prices to strengthen again in recent times.
The two countries are also expected to resume peace talks after previous negotiations stalled at the end of last weekend.
US President Donald Trump stated in a social media post that a ceasefire would begin at 5:00 p.m. local time, with the aim of stopping the conflict between Israel and the Iran-backed Hezbollah group in Lebanon, which has heated up again due to the US-Israel war against Iran.
“If we see a easing of tensions between the US and Iran or even the end of the war, the likelihood of interest rate cuts by the Federal Reserve will increase, and that could support the performance of precious metals,” said David Meger, Director of Metals Trading at High Ridge Futures.
From an economic perspective, US unemployment benefit claims fell last week, indicating that labour market conditions remain stable. However, businesses are said to remain cautious in hiring amid the shadow of the conflict with Iran.
Meanwhile, other precious metal prices moved variably. The spot silver price fell 1 percent to 78.29 US dollars per ounce.
Meanwhile, platinum weakened 0.6 percent to 2,096.20 US dollars, and palladium fell 0.7 percent to 1,561.50 US dollars per ounce.