Gold Closes at $4,813 (-0.21%): Geopolitical Tensions and Macro Data Mark the Session

Today's session for precious metals concluded with a tone of caution following a volatile trading period. Despite ongoing tensions in the Middle East, which kept Brent crude near $100 per barrel due to uncertainty surrounding U.S.-Iran talks and the blockade of the Strait of Hormuz, gold failed to sustain its initial gains. The precious metal closed at $4,813.70 per troy ounce, marking a slight drop of 0.21%.

The afternoon session was characterized by increased profit-taking and an absence of significant U.S. macroeconomic data to drive further movements. While the news of Brent crude approaching $100 per barrel again due to tensions in the Persian Gulf and the Strait of Hormuz provided some support, speculation on the Federal Reserve's monetary policy evolution became a more influential factor. Statements from Feds's Miran suggesting a potential scaling back of the rate-cut outlook due to less favorable inflation developments added pressure to the metals.

Silver, platinum, and palladium experienced more pronounced declines, closing with losses ranging from 1.11% to 1.32%. These metals, more sensitive to industrial activity, appeared to react to the absence of new bullish impulses and a general market consolidation. Copper, affected by the same dynamic, also retreated by 0.54% to $6.05 per ounce.

On the geopolitical front, news that Gulf and European leaders see a six-month timeline for a U.S.-Iran peace deal, while not resulting in an immediate resolution, contributed to the moderation of risk premiums in the final trading hours.

**Metal Closures — Levels, Intraday Variation, Cause**

* **Gold (XAU):** $4,813.70 USD/oz (-0.21%). Retreat after morning gains, influenced by profit-taking and speculation on Fed policy.

* **Silver (XAG):** $78.70 USD/oz (-1.17%). More significant drop, reflecting the sensitivity of industrial metals to market consolidation.

* **Platinum (XPT):** $2,106.80 USD/oz (-1.11%). Similar to silver, pressured by the absence of new bullish catalysts.

* **Palladium (XPD):** $1,567.50 USD/oz (-1.32%). The largest drop among precious metals, affected by profit-taking.

* **Copper (HG):** $6.05 USD/oz (-0.54%). Moderate retreat, in line with the general consolidation trend.

**Session Driver**

The absence of strong macroeconomic data in the afternoon session and statements from a Fed member suggesting a potential moderation in rate cuts were the main factors limiting the upside potential for precious metals, leading to widespread profit-taking, especially in silver, platinum, and palladium.

**Tomorrow**

Investors will be closely watching U.S. inflation data (Producer Price Index - PPI) scheduled for Friday morning. This data could provide new clues on the trajectory of the Federal Reserve's monetary policy and reignite movements in the metals market.

Sources