Gold
Holds Steady as Investors Eye Middle East, Await Key US Data

Singapore,
10 Mar 2026 (ONA) — Gold prices held steady today as investors adopted a
cautious stance amid shifting geopolitical tides in the Middle East, following
reports that US President Donald Trump signalled a potential near-term end to
the conflict with Iran.

Spot
gold edged down 0.2 percent to $5,131.24 per ounce, stabilizing after a more
pronounced decline in the prior session. Meanwhile, US gold futures for April
delivery advanced 0.7 percent to $5,141.40 per ounce.

The
US dollar softened 0.4 percent, lending support to bullion by making it less
expensive for holders of other currencies.

President
Trump indicated yesterday that the war could conclude sooner than the initial
four-week timeline previously outlined, offering a rare diplomatic aperture in
a conflict that has roiled global energy markets.

The
hostilities have forced the closure of the Strait of Hormuz—a strategic artery
through which roughly one-fifth of the world’s oil and liquefied natural gas
flows—bringing tanker traffic to a standstill for over a week. The disruption
has forced producers to halt output as storage capacity maxes out, sending
energy prices higher.

Market
focus now shifts to upcoming US economic data, with February’s Consumer Price
Index due tomorrow (Wednesday) and the Personal Consumption Expenditures
report—the Federal Reserve’s preferred inflation gauge—set for release on
Friday. Both figures will be scrutinized for clues on the central bank’s
monetary policy trajectory.

In
other precious metals, spot silver gained 0.4 percent to $87.32 per ounce,
while platinum eased 0.6 percent to $2,168.52. Palladium slipped 0.1 percent to
$1,689.11.

—
Ends/Khalid