Gold Edges Higher After Trump Says U.S. Will Extend Cease-Fire Deadline

Gold in early trade ticked higher after President Trump said the U.S. will extend a cease-fire with Iran until Tehran produces “a unified proposal.” The announcement produced a modest reversal in recent asset moves after front-month Comex gold futures fell 2.25% on Tuesday; spot gold was about 0.3% higher at $4,732.45/oz. NAB strategist Gavin Friend described the move as a “very modest reversal of prior asset moves.” Trump did not specify an end date for the extension. The comment briefly softened the market’s prior sell-off in precious metals, supporting a near-term bullish tone for gold amid shifting geopolitical news.