Gold holds near $4,325 after Israel and Iran truce
Business
Gold prices didn't budge much on Tuesday, right after Israel and Iran called a truce in their four-month war.
The ceasefire is seen as a big step toward calming things down in the Middle East.
Early trading showed gold holding steady at around $4,325 per ounce.
Oil rally, high rates pressure gold
The conflict messed with oil shipments through the Strait of Hormuz, pushing oil prices higher and raising concerns about global inflation.
This led central banks to keep interest rates up, which isn't great news for gold.
Even though gold took a hit during the fighting and is still 18% below where it was before the war, some experts at Citigroup are optimistic: it could bounce back to $5,000 per ounce in the next year or so.