https://newsletter.mw.creamermedia.com
Gold|Nuclear|Platinum
Gold|Nuclear|Platinum
gold|nuclear|platinum

Gold falls as haven demand ebbs after Trump announces ceasefire

US President Donald Trump

US President Donald Trump

24th June 2025

By: Bloomberg

  

Font size: - +

Gold retreated as haven demand ebbed after US President Donald Trump announced that Israel and Iran had agreed to a ceasefire that would start about midnight Monday in Washington.

Bullion fell as much as 0.6% to below $3 350 an ounce in early Asian trading. Trump, who made the surprise announcement on his Truth Social platform days after ordering airstrikes on Iran’s nuclear facilities, said the accord is aimed at a lasting end to the fighting. There was no immediate comment from Iran or Israel.

Rising haven demand due to increasing geopolitical tensions has been one of the main catalysts for gold’s 28% advance this year, along with concerns over the economic impact of Trump’s tariffs and increased buying from central banks. Investors will be keeping an eye on testimony from Federal Reserve Chairman Jerome Powell in coming days for hints on monetary easing, with lower rates typically supportive for non-interest paying bullion.

Spot gold dropped 0.5% to $3,353.02 an ounce as of 7:27 a.m. in Singapore. The Bloomberg Dollar Spot Index fell 0.2%. Platinum edged higher, platinum was steady and silver declined.

Edited by Bloomberg

Comments

Showroom

Immersive Technologies
Immersive Technologies

Immersive Technologies is the world's largest, proven and tested supplier of simulator training solutions to the global resources industry.

VISIT SHOWROOM 
Weir
Weir

Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (20/06/2025)
20th June 2025 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.258 0.332s - 127pq - 2rq
Subscribe Now