Gold steadies as investors weigh fragile Israel-Iran ceasefire

TEHRAN, Iran — Gold prices traded sideways on Tuesday as investors assessed a fragile ceasefire between Israel and Iran and monitored developments in the broader Middle East conflict. Spot gold held at $4,332.50 per ounce as of 02:22 GMT, while U.S. gold futures for August dipped 0.1 percent to $4,357.10. KCM Trade analyst Tim Waterer said investors were exercising caution ahead of key U.S. inflation data expected later this week, noting that the figures would shape expectations for the Federal Reserve's monetary policy direction. Iran and Israel announced on Monday that they had halted mutual attacks following a call from U.S. President Donald Trump. Tehran warned, however, that it would resume hostilities if Israel continued targeting Hezbollah in Lebanon. In the broader precious metals market, spot silver fell 0.7 percent to $67.71 per ounce and platinum slipped 0.2 percent to $1,751.39. Palladium gained 0.8 percent to $1,213.89. Investors are awaiting May U.S. consumer price index data due Wednesday.