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00:02Gold prices edged higher in thin European trading as the dollar weakened and markets
00:07assessed a proposed ceasefire in the U.S.-Israel war with Iran, according to Reuters.
00:12Spot gold reversed a 1% loss to rise 0.1% to $4,178.58 per ounce, while June
00:19futures
00:20gained 0.6% to $4,706. Analysts said ceasefire headlines reduced demand for oil and the dollar,
00:27supporting gold. Crude prices fell more than 1%, but remained above $108 per barrel,
00:33and the dollar index slipped 0.1%. Traders have almost fully ruled out rate cuts this year,
00:38compared with expectations for two cuts before the war. Iran said it formulated positions in
00:43response to ceasefire proposals delivered through intermediaries, and stated negotiations are
00:48incompatible with ultimatums and threats to commit war crimes. Iran rejected reopening the Strait of
00:54Ramos after Trump warned of attacks, and an analyst said the next 48 hours could bring chaos and
00:59volatility if strikes occur. For all things money, visit Benzinga.com.
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