Gold prices in the international market fell to their lowest level in almost two weeks on Tuesday, as investors shifted towards riskier assets after reports of a ceasefire between Iran and Israel.
By 0257 GMT, spot gold was down 0.5 per cent at $3,351.47 an ounce, after briefly hitting its lowest point since June 11. US gold futures also slipped, falling 0.9 per cent to $3,365.30.
Stock markets responded with gains, while oil prices dropped to a one-week low after Trump’s remarks, reflecting improved investor confidence.
The mood in financial markets brightened after US President Donald Trump announced that Iran and Israel had agreed to a ceasefire. The news raised hopes that the 12-day conflict, which forced millions to flee Tehran and stirred fears of broader regional violence, might be coming to an end.
“There’s a pullback in geopolitical tensions for now, especially with signs that things are easing between the US and Iran,” said Ilya Spivak, head of global macro at Tastylive.
![Local residents at the Swat River, which is overflowing due to pre-monsoon heavy rains in the area on the outskirts of Mingora, the main town of Pakistan's Swat Valley [Sherin Zada/AP]](https://mmnews.tv/wp-content/uploads/2025/06/Flooding-in-Swat-river-120x86.jpg)
