Gold Poised for Third Consecutive Weekly Advance Amid Iran Ceasefire Uncertainty

TLDR Gold maintained levels around $4,765/oz, positioned for a third consecutive weekly advance of approximately 2% Uncertain US-Iran ceasefire agreement and scheduled weekend negotiations in Islamabad maintain market vigilance Global central banks, notably Poland and China, persist with strategic gold acquisitions Declining dollar strength this week enhanced gold affordability for international purchasers, bolstering valuations Friday’s US CPI release may influence Federal Reserve monetary policy projections Precious metal prices remained stable around $4,765 per ounce on Friday, positioning gold for its third consecutive weekly advance. The approximately 2% weekly increase unfolds as market participants closely monitor the unstable ceasefire arrangement between Washington and Tehran. Micro Gold Futures,Jun-2026 (MGC=F) The truce agreement, announced in recent days, initially provided market relief. However, complications emerged rapidly. Military operations persisted in Lebanese territory, while Iranian officials disputed reports that their diplomatic team had reached Islamabad for planned weekend discussions with US representatives. President Trump expressed cautious optimism regarding potential peace negotiations. Simultaneously, he issued warnings to Iran concerning charges imposed on maritime vessels navigating the Strait of Hormuz, a critical waterway for international petroleum transport that remains predominantly inaccessible. PRESIDENT TRUMP: “There are reports that Iran is charging fees to tankers going through the Hormuz Strait — They better not be and, if they are, they better stop now!” pic.twitter.com/AE18nX5M7i — The Kobeissi Letter (@KobeissiLetter) April 9, 2026 Notwithstanding this week’s positive momentum, gold has declined roughly 10% since hostilities commenced in late February. Market participants liquidated gold holdings to offset portfolio losses elsewhere, diminishing its traditional safe-haven attractiveness. Oil markets faced their mos...