Gold Price Increased — US-Iran Negotiations Reduced Energy Inflation Fears

Gold prices rose slightly on Thursday as lower oil prices eased concerns about energy inflation and potential interest rate hikes.

Spot gold gained 0.2% to $4,079.70 per ounce, though it touched its lowest level in more than six months during the day. Meanwhile, gold futures declined 0.8% to $4,100.65.

Market sentiment was influenced by reports that the US and Iran are continuing negotiations toward a peace agreement, despite both sides conducting airstrikes against each other in recent days.

According to media reports, Washington and Tehran are discussing the terms of a preliminary agreement, which would include the unblocking of part of Iran's financial assets. However, uncertainty surrounding the negotiations remains high. US President Donald Trump stated that additional military action would not be ruled out in the event Iran rejects an agreement.

At the same time, military tensions in the region persist. The US conducted strikes on several military facilities in Iran, to which Tehran responded with retaliatory strikes on American military bases in the region.