Gold steady amid U.S.-Iran ceasefire uncertainty

April 10, 2026 (MLN):  Gold prices remained relatively steady on Friday,  as a stronger U.S. dollar and uncertainty surrounding the fragile U.S.-Iran ceasefire weighed on the market.

Currently, spot gold is up 0.62% to $4,750.61 an ounce as of [2:57 pm] PST, according to data reported by Mettis Global.

A firmer dollar made gold more expensive for investors holding other currencies, limiting further gains.

Prices have declined roughly 10% since the onset of the Iran conflict on February 28, as surging energy costs fueled inflation concerns and raised the possibility of prolonged higher U.S. interest rates, according to Reuters.

Meanwhile, tensions around the two-week ceasefire between the United States and Iran persisted, with Washington accusing Tehran of violating commitments related to the Strait of Hormuz, a critical global energy route.

In contrast, oil markets saw relief, with Brent crude falling more than 11% this week on hopes that the ceasefire could restore access through the strait, which handles about one-fifth of global oil and liquefied natural gas flows.

On the economic front, the U.S. Personal Consumption Expenditures (PCE) index  rose 2.8% year-on-year in February, matching expectations, and is anticipated to increase further in March.

Investors are now awaiting the release of U.S. Consumer Price Index (CPI) data later in the day for clearer signals on the Federal Reserve’s policy outlook.

Among other precious metals, silver gained 0.5% to $75.48 per ounce, while platinum dropped 2.5% to $2,049.84, and palladium edged down 0.3% to $1,552.59.

Copyright Mettis Link News