Gold Prices Hold Steady Amid US-Iran Peace Deal Optimism

By News Desk on May 21, 2026

Gold

Singapore: Gold prices held steady today as optimism surrounding a potential peace agreement between the United States and Iran offset concerns about inflation driven by higher oil prices and rising global interest rates.

Spot gold remained stable at $4,543.96 per ounce after rising by more than one percent during the previous session following earlier losses that pushed prices to their lowest level since 30 March 2026.

US gold futures for June delivery rose by 0.2 percent to $4,545.50 per ounce.

US Treasury yields and oil prices declined earlier today amid growing expectations that Washington was nearing an agreement with Tehran aimed at ending the conflict in the Middle East, while major global stock indices recorded gains.

Minutes from the US Federal Reserve’s April meeting showed that most policymakers believe tighter monetary policy may be needed if inflation continues to remain above the central bank’s two percent target.

Among other precious metals, spot silver held steady at $75.96 per ounce, platinum declined by 0.2 percent to $1,947.37 per ounce, while palladium edged down by 0.1 percent to $1,368.75 per ounce.

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