Adedokun Waliyu 
Gold prices remained largely steady as investors stayed cautious over the fragile ceasefire between the United States and Iran.
Spot gold edged up by 0.1 percent to $4,721.51 per ounce, while US gold futures for June delivery declined by 0.7 percent to $4,744.90.
Investors are also closely watching a key US inflation report for signals on interest rate direction. Minutes from the Federal Reserve March meeting indicated that more policymakers believe further rate hikes may be necessary to address inflation, which remains above the 2 percent target.
Upcoming economic data, including US Personal Consumption Expenditures and consumer price figures, are expected to provide further insight into the Federal Reserve’s policy path.
Market analysts suggest that gold may trade within a range in the near term, as uncertainty persists over the ceasefire and broader geopolitical developments.
Meanwhile, tensions in the Middle East continue to influence global markets. Recent strikes involving Israel and Lebanon have heightened concerns about the stability of energy supplies.
Oil prices have risen amid fears that supply disruptions in the region may continue if the ceasefire does not hold.
Gold prices have fallen more than 10 percent since the conflict began on February 28, as rising energy costs fueled inflation concerns and reduced the appeal of non-yielding assets like gold.
Analysts, however, expect gold to regain strength in the coming months due to ongoing geopolitical risks.
Among other precious metals, silver declined slightly, platinum fell, and palladium recorded a modest increase.
