Gold Falls as Haven Demand Ebbs After Trump Announces Ceasefire
Gold retreated as haven demand ebbed after US President Donald Trump announced that Israel and Iran had agreed to a ceasefire that would start about midnight Monday in Washington.
Bullion fell as much as 0.6% to below $3,350 an ounce in early Asian trading. Trump, who made the surprise announcement on his Truth Social platform days after ordering airstrikes on Iran's nuclear facilities, said the accord is aimed at a lasting end to the fighting. There was no immediate comment from Iran or Israel.
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