Gold Advances as Traders Weigh Fragile Ceasefire in Iran War

Gold advanced for a third day as traders weighed the prospect of a diplomatic resolution to the Iran war, even as ongoing tensions threatened to derail a fragile ceasefire.

Bullion traded around $4,770 an ounce, extending a 1.5% gain over the previous two sessions. The US and Iran prepared for peace talks in Pakistan with a vulnerable truce largely holding, though issues such as Israel’s offensive in Lebanon and the opening of the Strait of Hormuz remain unresolved.