Gold Prices Surge Following US Announcement of Ceasefire with Iran

Moscow: Gold prices rose sharply after US President Donald Trump approved a two-week ceasefire with Iran. Spot gold climbed 2.3 percent to $4,811.66 per ounce, while U.S. June futures surged 3.3 percent to $4,840.20 per ounce. According to Qatar News Agency, other precious metals also saw gains: spot silver rose 4.3 percent to $76.08 per ounce, platinum increased 2.4 percent to $2,004.95, and palladium climbed 2.1 percent to $1,500. The announcement of the ceasefire appears to have driven up investor confidence, leading to the notable increases in these precious metal prices.