27.04.202604:12:44UTC+00Gold Rises on Reports of Iran Proposal

Gold climbed back above $4,700 an ounce on Monday, reversing earlier losses after reports emerged that Iran had submitted a new proposal to the United States aimed at reopening the Strait of Hormuz and ending the war. The proposal, reportedly conveyed through Pakistani mediators, calls for extending the ceasefire to enable progress toward a permanent end to hostilities, while postponing nuclear talks until the US blockade of the strait is lifted. Earlier in the session, gold had declined after US President Donald Trump cancelled a planned visit by senior envoys to Islamabad to resume talks with Iran, as Tehran reiterated that it would not negotiate under threats or blockade conditions. Despite the rebound, non-yielding bullion remains broadly under pressure, as heightened inflation risks linked to the Middle East conflict reinforce expectations that central banks may keep interest rates higher for longer, or even tighten policy further.