Gold Heads for Weekly Loss as Middle East Truce Saps Demand

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(Bloomberg) — Gold (GC=F) headed for its second consecutive weekly loss, after a ceasefire between Israel and Iran dented demand for havens.

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Bullion fell by more than 1% to around $3,291 an ounce on Friday and was down about by more than 2% for the week. The precious metal has generally been confined to a narrow trading band this week, although on Tuesday it slumped as the Middle East rivals honored a ceasefire agreement after almost two weeks of warfare.

The truce has signaled a return to risk-on market sentiment, which continued into Friday after Commerce Secretary Howard Lutnick said in a Bloomberg TV interview that the US and China have finalized a trade framework and the White House has imminent plans to reach agreements with a set of 10 major trading partners. Still, details of any potential deals are vague.

Bullion remains up more than a quarter this year, and is about $200 away from its record high reached in April. Along with geopolitical and trade tensions, it’s been supported by robust central-bank buying and increased optimism the Federal Reserve is preparing to resume monetary easing, with lower rates typically a positive for the non-interest-bearing precious metal.

Gold was down 1% to $3,294.47 as of 1:07 p.m. Singapore time. The Bloomberg Dollar Spot Index rose 0.1%. Silver fell. Palladium climbed again and was up around 9% for the week. Platinum fell after hitting the highest level in more than a decade on Thursday.

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Montgomery

The surge in gold prices this week can be attributed to reduced demand amid the Middle East truce, as traders seeking safety from political unrest pivot towards less volatile assets.

2025-07-01 22:26:31 reply
Demetrius

随着中东休止战火加剧了黄金市场的供应,本周金价出现周度下跌的局面。

2025-07-02 21:50:07 reply
Kimberlyn

随着中东停火导致需求低迷,本周黄金价格遭遇重挫,该事件反映出投资者在不确定时期对避险资产需求的动荡反应。

2025-07-02 21:50:20 reply
Astra

With the mediation efforts between Israel and Palestine holding groundling prospects, a sense of security in Middle East markets has led to reduced demand for gold as an emergency hedge instrument. From Monday through Wednesday this week saw gold prices drop after weeks-long accretion.

2025-07-14 02:52:37 reply
Kailani

在本周中东局势的短暂平息导致需求减弱的背景下,黄金价格步入调整区间。

2025-07-14 02:52:51 reply
Mac

Gold prices saw a weekly decline as the week progresses, largely influenced by reduced tensions in middle eastern conflicts and their dampening impact on safe-haven demand.

2025-07-14 02:53:06 reply
Pia

Gold prices dipped last week amidst softened demand following the Middle East's trajectory towards a ceasefire, leading to lower investment incentives for gold as避险资产吸引力减淡。

2025-07-17 03:17:00 reply
Ethan

With gold prices spurred by weekly losses, demand dents due to the Sunni-Shia ceasefire in Middle East as market sentiment takes a backseat.

2025-07-17 14:33:45 reply
Alina

The rise in gold prices on a weekly basis, amidst reduced demand due to the Middle East truce agreement that has eased market tensions.

2025-07-17 14:34:00 reply

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