Gold Prices Hold Steady Amid U.S.-Iran Nuclear Talks Anticipation

Gold prices remained stable as investors awaited outcomes from U.S.-Iran nuclear discussions in Geneva. Despite slight fluctuations, gold maintained its standing as a reliable investment amid geopolitical uncertainty. Analysts noted potential market shifts contingent on the outcome of these pivotal talks.

Gold prices remained largely unchanged on Thursday as investors cautiously observed developments surrounding the indirect U.S.-Iran nuclear talks in Geneva, hoping for signs of reduced geopolitical tensions. At 11:23 a.m. ET, spot gold rose by 0.2% to $5,181.29 per ounce, while U.S. gold futures for April delivery dropped by 0.5% to $5,198.20.

"Gold and silver are testing resistance thresholds at $5,200 and $90 respectively, but have yet to maintain an upward trend this week," commented Razan Hilal, a market analyst at FOREX.com. The senior Iranian official indicated that a successful deal could occur if Washington decouples nuclear and non-nuclear topics.

Peter Grant, vice president and senior metals strategist at Zaner Metals, emphasized that despite heightened uncertainty, gold remains a steadfast value refuge during geopolitical and economic instability. Additionally, U.S. tariff rates may see increases, while the job market shows marginal changes in jobless claims, hinting at potential interest rate adjustments by the Federal Reserve.

(With inputs from agencies.)