Gold Prices Rebound After Trump Says Iran Negotiations Near Final Stage
Spot gold prices climbed 1.39% to US$4,543.55 per troy ounce after falling to around US$4,490 per troy ounce in the previous session.
Market sentiment improved after U.S. President Donald Trump stated that negotiations with Iran had entered the final stage. However, Trump also warned of potential additional military action if Iran refuses to agree to the proposed peace deal.
According to Alwi Assegaf, Research & Development analyst at Trijaya Pratama Futures, the rebound in gold prices was also supported by declining U.S. Treasury yields.
The yield on the 10-year U.S. Treasury note fell to 4.576% from the previous 4.669%.
“The decline in Treasury yields has provided room for gold to rebound after facing significant pressure over the past several trading sessions,” Alwi said in his Thursday research note.
Alwi added that investors have started to reduce concerns over rising inflation as geopolitical tensions in the Middle East show signs of easing.
In addition to developments in U.S.-Iran negotiations, shipping data indicated that several Chinese supertankers and oil tankers had begun exiting the Strait of Hormuz. This development triggered a decline in global crude oil prices and eased fears of disruptions to the world’s energy supply.
Despite improving market sentiment, the minutes from the April 2026 Federal Open Market Committee (FOMC) meeting revealed that most Federal Reserve officials are still open to further interest rate hikes this year.
The meeting minutes showed that many policymakers believe tighter monetary policy may still be necessary if inflation remains above the Fed’s 2% target. Several members even proposed removing previous statements that hinted at a dovish policy stance.
Meanwhile, Tiffani Safinia, Research & Development analyst at ICDX, said investors are now closely watching upcoming U.S. economic data, including manufacturing PMI figures and weekly jobless claims, to assess the resilience of the U.S. economy amid ongoing inflation pressures.
“The movement of the U.S. dollar and energy prices is expected to remain the primary factor influencing gold price direction in the short term,” Tiffani explained.
Tiffani also noted that medium- to long-term investors may continue applying a gradual accumulation strategy, as gold remains a preferred hedge against inflation and global uncertainty.
From a technical perspective, Alwi stated that gold price movements on the H4 timeframe remain under bearish pressure, although short-term rebound signals have started to emerge after prices managed to hold above the 4,453 support level.
Gold prices are still trading below the descending trendline and moving average area, indicating that the bearish trend continues to dominate the market. However, the Relative Strength Index (RSI) has started to move higher from oversold territory, signaling that bearish momentum is gradually weakening.
If prices manage to break through the resistance zone between 4,589 and 4,637, the opportunity for further gains toward the 4,773 area could widen. On the other hand, if gold fails to break resistance and falls back below 4,511, selling pressure may intensify toward support levels at 4,453 and 4,404.