Gold Rises to $4,760 per Ounce on Tuesday as U.S. and Iran Signal Ceasefire Talks

On Tuesday, gold prices rose to around $4,760 per ounce, rebounding from the previous trading day's decline, as the U.S. and Iran signaled willingness to restart negotiations on a longer-term ceasefire agreement before the current two-week truce expires.

U.S. President Donald Trump stated that Iran has engaged with Washington shortly after the U.S. imposed a maritime blockade on Iranian oil shipments through the Strait of Hormuz. Iranian President Masoud Pezeshkian indicated Iran's openness to continued peace talks within the framework of international law. Oil prices declined on market expectations of a long-term agreement, easing inflation concerns and reducing expectations that central banks will maintain or raise interest rates. Despite the rebound, gold has declined approximately 10% since the conflict began.