Gold (XAU/USD) holds above the $4,300 mark on Tuesday as traders await further details on the peace framework between the United States (US) and Iran.
At the time of writing, XAU/USD trades around $4,340, up 0.70% on the day Iran’s Foreign Minister Abbas Araghchi warned that any Israeli attack on Lebanon or continued occupation of its territory would constitute a violation of the interim agreement with the US
Araghchi also said a new round of US-Iran talks will begin on Friday. The discussions will cover Iran’s nuclear program, sanctions relief and the release of frozen Iranian assets. US President Donald Trump said he considers the Lebanon war a “minor” conflict and that the Iran deal can survive.
However, Trump reiterated that “all hell will break out” if Iran attempts to obtain a nuclear weapon. A weaker US Dollar (USD) and easing Oil prices are helping the metal stay on the front foot for a fourth consecutive trading day. Still, it lacks follow-through buying as investors remain reluctant to place aggressive bets until the final agreement is formally signed on Friday.