Gold slightly down, US-Iran negotiations at a stalemate

The price of gold has slightly retreated, and the market is waiting for progress on the US-Iran peace agreement draft. If the agreement is reached, it will reopen the Strait of Hormuz and alleviate concerns in the market about high inflation and rising interest rates. At the beginning of this week, the price of gold was hovering around $4535 per ounce. Despite ongoing diplomatic negotiations, there are no signs of the "ultimate conclusion" hinted at by US President Trump last Friday. Meanwhile, Israel has launched its largest invasion operation in Lebanon in 25 years, while Iran's strongest ally in the region, Hezbollah, has increased its attacks on northern Israel.