Gold prices fall below 3,330 dollars after Trump announces the end of the war
Global gold markets witnessed a noticeable decline, as prices fell below the support level of 3,330 dollars per ounce, reaching 3,316 dollars, following the announcement by former US President Donald Trump of a ceasefire agreement between Israel and Iran.
Trump confirmed in a post on social media that the agreement will come into force within 24 hours, which will mark the end of a 12-day war.
Gold as a safe haven during crises
During the period of escalation between Israel and Iran, Gold played the role of a safe haven for investors, as its prices rose to 3,450 dollars per ounce in the early stages of the war, before gradually declining as the situation stabilized.
With the announcement of a possible ceasefire, investors began to turn towards riskier assets, which further put pressure on the prices of the yellow metal.
Is the crisis completely?
over Despite the optimism of Trump's announcement, there are still fears that tensions will continue, especially after the Iranian attack on Tuesday morning that killed almost 10 people.
This attack came after Trump's statements in which he praised the weak response of Iran during the attack that targeted a US base in Qatar.
Future forecasts of gold prices
Experts predict that gold prices will remain volatile in the coming period, as any renewed clashes may re-escalate the demand for it as a safe haven.
At the moment, investors are waiting for developments in the situation, especially with the possibility that political statements or any possible violations of the ceasefire could have sudden effects on the markets.
While the world breathes a sigh of relief with signs of peace, gold remains under the microscope of geopolitical fluctuations, making it one of the most sensitive assets to world events.
