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22.04.202604:05:24UTC+00Gold Rises as Trump Extends Iran Ceasefire

Gold climbed above $4,750 an ounce on Wednesday, recovering part of the previous session’s losses after President Donald Trump extended the ceasefire with Iran, even as plans for a second round of peace talks collapsed. Trump said he would postpone any further strikes until Iran presents a new proposal and negotiations are completed.

At the same time, reports indicated that Vice President JD Vance canceled a planned trip to Islamabad after Tehran, through Pakistan, informed Washington that it would not participate in the talks. Iran also stated it would not reopen the Strait of Hormuz as long as the US Navy continues to intercept vessels.

Despite the latest rebound, gold remains nearly 10% lower since the conflict began. The metal also came under additional pressure from the Senate confirmation hearing for Federal Reserve Chair nominee Kevin Warsh, who vowed to act independently. Warsh called for a new framework to tackle persistent inflation, though he offered no further details.

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