Gold prices fall after Trump's announcement of a fire stop between Iran and Israel

Gold has fallen with the decline in demand for safe ports, after US President Donald Trump announced that Israel and Iran have reached a ceasefire agreement that begins almost midnight Monday, Washington. And immediate gold prices fell 0.5% to $ 3,353.02 per gram at 07:27 o’clock Singapore, after amounting to 0.6% in early Asian transactions up to below $ 3,350 per gram. The Bloomberg Instant Bloomberg index also fell 0.2%. On the other hand, the platinum rose slightly, and the palladium settled, while the silver decreased. A sudden agreement that Trump suddenly announced the agreement on his ‘Truth Social’ platform, days after he issued orders to launch air strikes on Iranian nuclear facilities. He said the agreement was aimed at ending a permanent struggle. There was no immediate comments from Iran or Israel. The escalation of geopolitical tension is one of the most prominent factors that has resulted in gold increasing by 28% since the beginning of the year, as well as the fear of the economic impact of customs laid down, and the increase in the purchases of central banks of precious metal. Investors follow the testimony of the President of the Federal Reserve, Jerome Powell, in the coming days, in search of references to a possible facilitation in monetary policy, knowing that low interest rates support golden habit as they do not produce returns.