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Oil Prices Slip as U.S.-Iran Peace Talks and Strait of Hormuz Risks Keep Markets on Edge 
US Stock Futures Rise as US-Iran Ceasefire Hopes Boost Market Sentiment 
Asian Currencies Stay Range-Bound as Investors Eye China Data, RBNZ Outlook and U.S.-Iran Ceasefire 
Yen Falls to 40-Year Low as Markets Watch Japan Intervention and U.S. Jobs Report 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
Asian Stocks End Strong Quarter as Dollar Surges, Yen Hits 40-Year Low Ahead of US Jobs Data 
Gold Price Falls as Fed Rate Hike Fears and U.S.-Iran Tensions Weigh on Bullion 
China Sets 1.25% Overnight Reverse Repo Rate Below Market Expectations 
Economic pessimism has set in – but there are reasons for Australians to be hopeful 
World Bank Approves $1.1 Billion Emergency Funding for Bangladesh Amid Food and Energy Price Pressures 
Argentina Economy Shrinks 1.5% in April, Recovery Under Milei Loses Momentum 
Trump Urges Gasoline Retailers to Cut Prices to $2.50 Per Gallon, Warns of Legal Action 
Gold prices slipped slightly from a one-month peak during Asian trading on Wednesday, with investors closely watching developments between the United States and Iran as a fragile ceasefire deadline approaches next week. The pullback came after a strong rally in the previous session, driven by optimism over potential peace negotiations and encouraging U.S. inflation data.
Spot gold declined 0.6% to $4,815.17 per ounce, while gold futures edged down 0.3% to $4,838.40 per ounce as of early morning Eastern Time. Fellow precious metals followed suit, with silver dipping 0.4% to $79.27 per ounce and platinum holding relatively steady at $2,107.21 per ounce.
Tuesday's rally was sparked by softer-than-expected U.S. Producer Price Index figures for March, which showed that while headline inflation was pushed higher by rising energy costs, core inflation remained largely contained. The data mirrored a similar trend seen in recent Consumer Price Index readings and put pressure on the U.S. dollar, boosting gold's appeal as an alternative asset. Former Federal Reserve Chair and Treasury Secretary Janet Yellen added to the bullish sentiment by suggesting there could be room for at least one interest rate cut later this year. Since gold generates no yield, lower interest rates typically enhance its attractiveness compared to government bonds.
Geopolitical tension continued to shape market sentiment. The U.S. military confirmed it had fully enforced a naval blockade against Iran, a move widely interpreted as pressure on Tehran to reach a lasting peace agreement. President Donald Trump expressed confidence that additional ceasefire talks would take place within days and that a resolution to the now seven-week-old conflict was near. Both sides have reportedly remained open to dialogue, and the existing ceasefire appeared to be holding as of Wednesday morning.
Traders remain cautious, aware that any breakdown in negotiations could quickly reignite safe-haven demand and push gold prices higher once again.
