Gold Stays Steady on Mixed Signals from Iran Conflict
Gold is ending this week trading at about $4,540 per ounce, a price range it has held for nearly a week. This comes as traders remain undecided regarding the Middle East war’s direction due to the mixed signals coming from both sides in the conflict. It has therefore become hard for traders to have concrete ideas about the likely action of major central banks on benchmark interest rates in the near term. Iran is putting together its response to the latest ceasefire proposal from Washington, a proposal that some sources say has watered down a number of contentious conditions that…