Hedging demand cools down, gold prices decline.

The US and Iran reached a ceasefire and restarted negotiations, reducing safe-haven demand, causing gold prices to fall; spot gold fell 1.8% to $4,016.97 per ounce. Traders continue to closely monitor inflation and Federal Reserve policy. Energy prices continue to rise, with the market maintaining expectations of high interest rates; analysts believe that gold prices will receive strong buying support near the $4,000 mark.