Institution: Gold Short-Term Outlook Turns Bullish, US-Iran Negotiation Seen as Next Catalyst

BlockBeats News, April 9th - According to the financial website Investinglive, after the United States and Iran announced a two-week ceasefire, gold received a boost yesterday as the easing of financial conditions supported a broader risk appetite.

However, these gains were later erased as Israel launched an attack on Lebanon, triggering a strong response from Iran, which insisted that Lebanon was already included in the ceasefire agreement. Currently, the ceasefire agreement remains in effect. The first round of US-Iran talks will take place in Islamabad. If both parties agree, the talks could be extended. The risk of a conflict re-erupting at any time still exists as the United States and Iran have not formally ended hostilities.

Nevertheless, as traders reprice hawkish expectations, the short-term bias for gold has shifted more bullish. However, if the negotiations fail and war resumes, market sentiment could quickly reverse.