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Gold Climbs Above $4,600 Per Ounce on Middle East De-escalation Signals

GateNews
Metals

According to U.S. officials, gold prices climbed above $4,600 per ounce on Wednesday, the second consecutive trading day of gains, amid signals of de-escalation in the Middle East. U.S. Defense Secretary Hegseth confirmed that a ceasefire agreement reached approximately one month ago remains in effect, while Secretary of State Rubio stated that offensive operations have ended as Washington shifts focus to securing shipping lanes in the Strait of Hormuz. President Trump announced a temporary halt to U.S.-led operations assisting stranded vessels in the strait to assess potential negotiations with Iran on ending the conflict, though the blockade of ships to and from Iranian ports will continue.

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