Gold prices fall in global markets

The gold market has remained largely stable due to ongoing tensions in the Middle East and the improvement in the US-Iran situation. Today, Tuesday (May 19), the news agency Reuters reported that spot gold prices fell 0.1 percent. Reuters said that investors are now monitoring the situation after the recent unrest. Due to this, spot gold prices fell 0.1 percent to $ 4,560.39 per ounce. However, US gold futures for June delivery rose 0.1 percent to $ 4,563.50.
According to market analysts, investors are now looking at the minutes of the US Federal Reserve’s April meeting. This document, which will be published on Wednesday, may indicate future interest rate policy. Therefore, they are turning to gold as a safe investment. US President Donald Trump said that the planned attack on Iran has been postponed for the time being, so that a negotiated solution can be created. The decision was taken after Iran sent a new peace proposal to Washington.
This has led to a drop in oil prices of more than 2 percent and some easing of inflation concerns. Although gold is generally considered a safe haven against inflation, other precious metals markets have also fallen. Spot silver fell 1.3 percent to $76.63 an ounce. Platinum fell 0.5 percent to $1,969.84 and palladium fell 1.2 percent to $1,401.74.