{"id":127684,"date":"2026-05-29T11:20:00","date_gmt":"2026-05-29T07:20:00","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=127684"},"modified":"2026-05-29T09:55:13","modified_gmt":"2026-05-29T05:55:13","slug":"gold-treads-water-as-iran-ceasefire-extension-hopes-battle-inflation-storm-pce-hits-3-year-high","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/gold-treads-water-as-iran-ceasefire-extension-hopes-battle-inflation-storm-pce-hits-3-year-high\/05\/29\/market-updates\/","title":{"rendered":"Gold Treads Water as Iran Ceasefire Extension Hopes Battle Inflation Storm: PCE Hits 3-Year High"},"content":{"rendered":"\n<h1 class=\"wp-block-heading\"><\/h1>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Key Takeaways<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Gold flat:<\/strong> Spot gold held steady at $4,495.9 per ounce, while gold futures edged down 0.1% to $4,526.17.<\/li>\n\n\n\n<li><strong>Volatile week, flat outcome:<\/strong> Bullion is set to end the week largely unchanged after wild swings driven by Middle East headlines.<\/li>\n\n\n\n<li><strong>Two-month low then recovery:<\/strong> Gold hit a two-month low Thursday before erasing losses to settle 0.8% higher on ceasefire reports.<\/li>\n\n\n\n<li><strong>60-day ceasefire extension:<\/strong> Reports say Washington and Tehran have reached a tentative deal to extend the truce and reopen Hormuz shipping \u2014 pending Trump&#8217;s approval and Iranian confirmation.<\/li>\n\n\n\n<li><strong>Inflation paradox:<\/strong> Geopolitical tensions would typically boost gold, but the energy-driven inflation threat is overriding safe-haven demand.<\/li>\n\n\n\n<li><strong>PCE hits 3-year high:<\/strong> April PCE rose 3.8% year-on-year \u2014 the fastest pace in roughly three years \u2014 reinforcing hawkish Fed bets.<\/li>\n\n\n\n<li><strong>Rates &#8220;higher for longer&#8221;:<\/strong> The hot inflation print has pushed expectations for rate cuts well into next year.<\/li>\n\n\n\n<li><strong>Treasury yields ease slightly:<\/strong> Yields pulled back marginally after the PCE data, but remain near multi-month highs.<\/li>\n\n\n\n<li><strong>Silver edges down:<\/strong> Spot silver fell 0.2% to $75.52 per ounce.<\/li>\n\n\n\n<li><strong>Platinum slips:<\/strong> Spot platinum dropped 0.4% to $1,915.3 per ounce.<\/li>\n<\/ul>\n\n\n\n<p>Gold prices were little changed during Asian trading on Friday as investors weighed reports that the United States and Iran were close to extending their ceasefire agreement, while persistent inflation concerns due to higher oil prices kept bullion under pressure.<\/p>\n\n\n\n<p>Spot gold was muted at $4,495.9 an ounce by 23:27 ET (03:27 GMT). U.S. gold futures edged down 0.1% to $4,526.17 an ounce.<\/p>\n\n\n\n<p>Gold fell to a two-month low in the previous session, but erased losses to settle 0.8% higher after reports suggested the U.S. and Iran would resume negotiations.<\/p>\n\n\n\n<p>Bullion was set to end the week largely flat after volatile trading driven by shifting headlines surrounding the Middle East conflict.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Ceasefire Extension Hopes Build<\/h2>\n\n\n\n<p>Market sentiment improved after reports said Washington and Tehran had reached a tentative agreement to extend a 60-day ceasefire and allow shipping through the Strait of Hormuz, although the proposal still awaits approval from U.S. President Donald Trump and confirmation from Iran.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Inflation Overrides Safe-Haven Appeal<\/h2>\n\n\n\n<p>Typically, geopolitical tensions and military conflicts boost demand for safe-haven assets such as gold. But in the current environment, investors are increasingly worried that higher oil and energy costs linked to the Middle East crisis could fuel broader inflation pressures \u2014 forcing the Federal Reserve to maintain restrictive monetary policy.<\/p>\n\n\n\n<p>Data released on Thursday showed the U.S. personal consumption expenditures (PCE) price index \u2014 the Fed&#8217;s preferred inflation gauge \u2014 rose 3.8% year-on-year in April, the fastest pace in roughly three years.<\/p>\n\n\n\n<p>The hotter inflation data reinforced expectations that the Fed will keep borrowing costs elevated well into next year.<\/p>\n\n\n\n<p>Treasury yields eased slightly after the data, but remained near multi-month highs \u2014 limiting upside momentum for bullion.<\/p>\n\n\n\n<p>Among other precious metals, silver prices edged down 0.2% to $75.52 per ounce, while platinum fell 0.4% to $1,915.3 per ounce.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Gold flat: Spot gold held steady at $4,495.9 per ounce, while gold futures edged down 0.1% to $4,526.17. Volatile week, flat outcome: Bullion is set to end the week largely unchanged after wild swings driven by Middle East headlines. Two-month low then recovery: Gold hit a two-month low Thursday before erasing losses to &hellip;<\/p>\n","protected":false},"author":9,"featured_media":94364,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,6827,49,37,36],"tags":[],"class_list":["post-127684","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-daily-economic-reports","category-economic-reports","category-forex-markets","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/127684","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=127684"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/127684\/revisions"}],"predecessor-version":[{"id":127685,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/127684\/revisions\/127685"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/94364"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=127684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=127684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=127684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}