Gold barely budged as Iran seizes ships, Trump extends cease-fire
Business
Gold prices barely budged on Thursday, even after Iran seized two ships in the Strait of Hormuz and US President Trump extended a cease-fire.
With tensions running high, investors are watching closely to see if peace talks actually happen.
Wall Street rises, Fed cuts unlikely
Despite the drama, Wall Street stocks have gone up thanks to the ongoing cease-fire.
Spot gold is now at $4,744.31 an ounce (up just 0.1%), and silver, platinum, and palladium have all seen small bumps too.
Inflation worries are growing though, so do not expect any interest rate cuts from the Federal Reserve for at least six months.