Gotrade News - Spot gold held steady at $4,785.57 per ounce on Wednesday after retreating from its highest level in a month. US gold futures slipped 0.3% to $4,808.30 per ounce as expectations of a US-Iran peace deal strengthened.
Key Takeaways:
- Spot gold flat at $4,785.57 while futures dipped 0.3% to $4,808.30
- US-Iran peace sentiment continues to weigh on traditional safe haven demand
- Markets price a 32% probability of Federal Reserve rate cuts this year
Growing expectations of a US-Iran diplomatic agreement are the primary factor pressuring precious metals demand. President Trump announced a ceasefire beginning at 21:00 GMT aimed at reducing Israel-Hezbollah tensions.
In March, geopolitical concerns from US-Israel strikes on Iran had driven a sharp gold rally. However, "as expectations for reduced energy prices and easing inflation pressures build, demand for traditional safe havens has softened."
Silver fell 1% to $78.29 per ounce while platinum declined 0.6% to $2,096.20 per ounce. Palladium also dropped 0.7% to $1,561.50 per ounce under the same pressure.
Rate Cut Outlook
David Meger, trading director at High Ridge Futures, believes geopolitical de-escalation could give the Federal Reserve greater flexibility to ease monetary policy. Markets currently estimate a 32% probability of rate cuts in 2026.
As a non-yielding asset, gold becomes less attractive when rates stay elevated. However, potential Fed easing amid conflict resolution could serve as a positive catalyst for gold prices going forward.
Sources:
- Kompas, Harga Emas Dunia Stabil, Pelaku Pasar Cermati Isu Perdamaian AS-Iran, 2026
- Kabar Bursa, Emas Tertahan di Puncak, Sentimen Damai Tekan Permintaan, 2026
- Bloomberg Technoz, Simak Prediksi Harga Emas Hari Ini, 2026
