Gold prices consolidate as ceasefire agreement nears expiration

Spot gold remains basically unchanged, quoted at $4,823.43 per ounce. The United States and Iran plan to hold peace talks in Islamabad this week. Media reports, citing a White House official, indicate that U.S. President Trump is not inclined to extend the ceasefire deadline that expires Wednesday evening. Konstantinos Chrysikos, Kudotrade's Head of Customer Relationship Management, said in an email: "Gold's trajectory will continue to be closely tied to developments in the Middle East and their impact on the energy market and inflation expectations."