XAU/USD remains elevated as traders weigh potential US-Iran negotiations reducing safe-haven demand for USD.
Gold (XAU/USD) held steady near two-week highs Thursday, supported by geopolitical developments as markets monitor progress toward a possible US-Iran peace agreement. The prospect of reduced tensions has weighed on the US Dollar, bolstering alternative safe-haven assets like gold.
Prices have fluctuated within a tight range as traders await concrete details on the negotiations. Earlier this week, gold reached its highest level since late June, driven by similar geopolitical optimism. Comparable periods show gold often reacts to shifts in USD strength tied to global risk sentiment.
No immediate market reaction was reported, with focus remaining on upcoming diplomatic updates.