Gold near $4,755 as US Iran talks in Pakistan loom
Gold is hanging out at around $4,755 an ounce as everyone waits to see what happens with the U.S.-Iran ceasefire talks in Pakistan this weekend.
There is some tension in the air: President Trump warned Iran about charging ships transit fees and hinted at possible military action if talks break down.
Still, gold looks set for its third straight week of gains, up about 1.6%.
Central banks buying as inflation rises
Rising US consumer prices and hopes for a Fed rate cut are making gold more attractive right now.
Central banks are also stocking up: Poland wants to boost its reserves to 700 tons, and China just made its biggest monthly gold buy in over a year.
ANZ Bank thinks central bank purchases could hit 850 tons this year, showing how ongoing global tensions are pushing everyone toward safer investments like gold.