December gold futures climb 0.7% as markets react to delayed U.S. military action amid Middle East de-escalation requests.
Gold December futures opened at $4,135.20 per troy ounce, up 0.7% from Friday’s close, following President Trump’s decision to pause planned airstrikes in Iran. The move came after U.S. allies urged de-escalation, though Iran stated it is not currently negotiating with the U.S.
Prices edged lower to $4,111.50 in early trading as markets assessed the geopolitical shift. Gold remains up 1.1% over the past week, 1.7% over the past month, and 25.8% year-over-year, though annual gains have moderated from January’s 95.6% peak.
The pause in airstrikes may ease short-term inflation concerns, but sustained relief depends on progress in peace talks.