WASHINGTON (dpa-AFX) - Offsetting the losses from yesterday's session marginally, gold prices have edged higher on Tuesday as investors assessed conflicting signals from the U.S. and Iran over a peace deal.
Front Month Comex Gold for August month delivery has inched higher by $11.10 (or 0.25%) to $4,517.40 per troy ounce.
Front Month Comex Silver for August month delivery has edged higher by $0.401 (or 0.53%) to $75.950 per troy ounce.
The U.S.-Israel versus Iran war entered day number 95 today.
Over the past few days, U.S. President Donald Trump reassured the nation that Iran will strike a deal with the U.S. which will be good for the U.S, and reaffirmed that all the efforts will work out well in the end.
Yesterday, CBS News reported that Trump made a few edits to the draft U.S.-Iran Memorandum of Understanding, focusing on matters related to the Strait of Hormuz and the removal of highly enriched uranium from Iran.
Meanwhile, despite agreeing to a ceasefire in April after a U.S. mediation, Israel has been launching several attacks on Lebanon.
On Sunday, Israeli Prime Minister Benjamin Netanyahu ordered the forces to move deeper into Lebanon.
Yesterday, Israeli forces captured the strategic Beaufort's Castle, a fortress in southern Lebanon.
Iran's Tasnim news agency reported that Iran's negotiators have paused exchange of messages with the U.S., frustrated by continuous violations of ceasefire by Israel. Iran hinted at plans to open other fronts in the war.
Through Truth Social, Trump messaged that talks were continuing at a rapid pace with Iran.
Later, Trump announced that he had had a telephonic call with Netanyahu as well as Lebanon's Hezbollah group through intermediaries and reaffirmed that both sides have consented to halt all mutual attacks.
Negotiators from Israel and Lebanon are in Washington, D.C. for a two-day meet beginning today to explore ways to resolve the crisis.
Iran's Parliamentary Speaker Mohammad Bagher Ghalibaf who is heading the Iranian side of negotiating delegation warned that if Israeli attacks on Lebanon continue, not only will Iran suspend the ongoing talks with the U.S., but it will stand against the Zionist regime.
Ghalibaf stressed that a U.S.-Iran agreement should involve halt to attacks on Lebanon too.
In the recent weeks, announcements from Trump suggested that the U.S. and Iran came close to reach an understanding, but an agreement has been so far elusive.
Pakistan's Foreign Minister Ishaq Dar had a telephonic discussion with Iran's Foreign Minister Abbas Araghchi yesterday.
Dar urged Iran to comply with the ceasefire and warned that any breakdown could aggravate the volatility already existing.
In an interview with ABC News, Trump stated that he thinks that he will have an agreement with Iran to extend the ceasefire and reopen the Strait of Hormuz, over the next week.
At a Congressional hearing, U.S. Secretary of State Marco Rubio stated that there are indications that Iran's new Supreme Leader Mojtaba Khamenei is engaging in talks to end the war and asserted that Iran has agreed to negotiate aspects of its nuclear program.
The World Gold Council's Q1 2026 Gold Demand Trends Report, published on April 29 stated that central banks bought a net 244 tons of gold in Q1 2026 alone.
Experts are now drawing attention to the buyer's list that includes Guatemala, Indonesia, Malaysia, Cambodia, Uganda, and Kenya which are countries that have never bought gold before or at least in the past few decades.
Economists are of the view that under changing geopolitical and macroeconomic conditions, world's monetary institutions prefer to hold gold as a long-term asset.
On the data front, the U.S. Job Openings and Labor Turnover Survey indicated that job openings increased by 731,000 to 7,618,000 in April, well above market expectations of 6,880,000, indicating labor market resilience.
For the same period, the number of job quits fell to 2,977,000.
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