TLDR Gold rose over 1% to around $4,767 an ounce after a two-day decline Trump extended the US-Iran ceasefire indefinitely, allowing more time for peace talks PlannedTLDR Gold rose over 1% to around $4,767 an ounce after a two-day decline Trump extended the US-Iran ceasefire indefinitely, allowing more time for peace talks Planned

Gold Price Rises After Trump Extends Iran Ceasefire Indefinitely

2026/04/22 17:15
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TLDR

  • Gold rose over 1% to around $4,767 an ounce after a two-day decline
  • Trump extended the US-Iran ceasefire indefinitely, allowing more time for peace talks
  • Planned US-Iran negotiations fell through at the last minute on Tuesday
  • Fed Chair nominee Kevin Warsh said he made no promises to cut interest rates
  • Gold has lost around 10% since the Iran conflict began in late February

Gold prices recovered on Wednesday after two days of losses, climbing more than 1% to around $4,767 an ounce. The rebound came after US President Donald Trump extended a ceasefire with Iran, giving both sides more time to negotiate a peace deal.

Spot gold rose 0.9% to $4,763.66, while gold futures climbed 1.3% to $4,782.21 an ounce. Silver jumped 2.4% to $78.53 an ounce, with platinum and palladium also moving higher.

Micro Gold Futures,Jun-2026 (MGC=F)Micro Gold Futures,Jun-2026 (MGC=F)

Despite the ceasefire extension, the situation in the Middle East remains tense. The Strait of Hormuz is still closed to shipping. Iran has said it will not reopen the waterway while the US maintains its naval blockade.

Planned peace talks that were expected to take place Tuesday did not happen. US Vice President JD Vance canceled a trip to Islamabad after Iran said it would not attend the negotiations.

Fed Nominee Adds Pressure on Gold

Gold was also under pressure from comments made by Kevin Warsh, Trump’s pick to lead the Federal Reserve. Warsh testified before the Senate Banking Committee on Tuesday and made clear he would not commit to cutting interest rates.

Warsh, a former Fed governor, stressed the central bank’s independence from political pressure. He also said a new policy framework would be needed to deal with persistent inflation if he is confirmed.

Markets see Warsh as a hawkish pick, meaning he is likely to keep rates higher for longer rather than cutting them aggressively. Higher interest rates tend to hurt gold, which does not pay interest or dividends.

His nomination had already triggered losses in gold and precious metals back in late January. The timing of his confirmation remains uncertain, however.

Key Republican leaders have opposed confirming Warsh until the Trump administration drops an ongoing investigation into current Fed Chair Jerome Powell. Powell is expected to remain in the role past his term end on May 15 if the confirmation is delayed.

Gold Still Trapped in a Narrow Range

Gold has dropped around 10% since the Iran conflict began in late February. In recent weeks, prices have stayed between roughly $4,700 and $4,900 an ounce.

Analysts say the market has largely priced in the current level of geopolitical risk. A clear escalation or a major shift in economic conditions would be needed to push prices meaningfully higher or lower.

The dollar slipped 0.3% on Wednesday, making dollar-priced gold slightly cheaper for buyers using other currencies. Oil also fell, with Brent crude trading close to $100 a barrel.

Gold’s behavior since the conflict began has mirrored risk assets like stocks more than traditional safe-haven assets, moving in response to each development in the war.

Powell is expected to stay on as Fed chair past May 15, especially if Congress delays the Warsh confirmation process.

The post Gold Price Rises After Trump Extends Iran Ceasefire Indefinitely appeared first on CoinCentral.

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