Gold steadies as President Donald Trump pauses Iran strike
Gold prices held steady from their recent low this Tuesday, thanks to US President Trump holding off on a planned strike against Iran.
This pause is meant to give talks a chance and ease the ongoing U.S.-Israel conflict.
As of early morning, spot gold held at $4,565.40 per ounce, with futures for June delivery inching up by 0.2%.
Dollar weakness boosts gold appeal
With the dollar losing strength, gold becomes more appealing since it's priced in dollars.
Oil prices also slid over 2% in early Asian trading, which helps take some pressure off inflation.
While gold is usually seen as a safe bet during uncertain times, rising interest rates are still making waves across the market.
Silver, platinum and palladium decline
It wasn't just gold feeling the effects: silver dropped 0.3% to $77.58 per ounce, platinum fell 0.2% to $1,976.15, and palladium was down 0.6% at $1,409.75 this morning, all reflecting how global events and economic shifts are impacting commodities right now.