Gold ticks higher amid uncertainty over Iran ceasefire finalization

MG News | May 29, 2026 at 10:46 AM GMT+05:00

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May 29, 2026 (MLN): Gold prices ticked up on Friday as markets grappled with uncertainty surrounding a reported U.S.-Iran ceasefire deal, while persistent inflation concerns and the prospect of elevated American interest rates continued to underpin demand for the safe-haven metal.

Currently, spot gold is slightly up 1.2% to $4,506.72 an ounce as of [10:44 am] PST, according to data reported by Mettis Global.

The two sides USA and Iran had reached an understanding on Thursday to both extend the ceasefire and lift restrictions on tanker movements through the strait. However, U.S. President Donald Trump had yet to sign off on the arrangement, and Iranian state media cautioned that no final agreement had been reached, according to Reuters.

Oil prices dropped on Friday, putting crude on course for its sharpest weekly loss

Among other precious metals, spot silver edged up 0.1% to $75.67 per ounce and palladium rose 0.4% to $1,373.14, both poised for weekly gains. Platinum lagged behind, falling 0.4% to $1,915.53 and on course to close the week in the red.

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ALLSHR	107,545.62 611.68M	-0.16% -170.58
KSE30	52,748.13 109.41M	-0.15% -79.11
KMI30	250,923.14 114.37M	-0.26% -656.80
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Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	79,510.00	80,590.00 78,525.00	990.00 1.26%
BRENT CRUDE	88.56	88.64 86.22	0.72 0.82%
RICHARDS BAY COAL MONTHLY	110.30	0.00 0.00	0.85 0.78%
ROTTERDAM COAL MONTHLY	124.80	0.00 0.00	0.60 0.48%
USD RBD PALM OLEIN	1,228.00	1,228.00 1,228.00	0.00 0.00%
CRUDE OIL - WTI	82.55	82.57 80.65	0.32 0.39%
SUGAR #11 WORLD	17.81	17.81 17.55	0.22 1.25%