Business • Jun 24, 2025

Gold prices dip following Trump's ceasefire announcement

Gold prices slipped on Monday after US President Donald Trump unexpectedly announced a ceasefire between Israel and Iran via Truth Social.
The move follows recent airstrikes on Iran's nuclear sites and aims to calm down rising tensions, with the truce set to start at midnight Washington time.

TL;DR

Gold dips as investors await Powell's testimony

Spot gold dropped 0.5% to $3,353 an ounce during Singapore trading, reversing some of this year's big gains fueled by global uncertainty.
The US dollar also dipped slightly.
Meanwhile, platinum was steady and silver edged lower as investors now look ahead to Federal Reserve Chair Jerome Powell's upcoming testimony for hints about possible interest rate cuts—something that could make gold more appealing again.