Institution: Gold short-term turning bullish, US-Iran negotiations to become the next catalyst.

According to the financial website Investinglive, gold received a boost yesterday after the United States and Iran announced a two-week ceasefire, as the easing financial conditions supported a broader risk appetite. However, these gains were later erased as Israel launched attacks on Lebanon, triggering a strong response from Iran, which insisted that Lebanon had been included in the ceasefire agreement. Currently, the ceasefire agreement remains in effect. The first round of US-Iran negotiations will be held in Islamabad. If both sides agree, the talks may be extended. The risk of conflict resuming at any time still exists, as the United States and Iran have not formally ended their hostile status. Nevertheless, as traders reprice hawkish expectations, the short-term bias of gold has shifted more towards bullish. However, if negotiations fail and war erupts again, market sentiment could quickly reverse.