Gold Price Stagnant Amid Ongoing Tensions

The gold price has been moving sideways over the past few days due to ongoing peace negotiations between Iran and the US. The market is waiting for an outcome, but investors are still cautious about inflation expectations.

In recent months, the gold price has been affected by the closure of the Strait of Hormuz, a crucial shipping route that could lead to higher inflation if it remains closed for too long.

The Perth Mint and The Royal Mint have broken sales records for exported investment gold and silver. The Perth Mint has already sold AUD 40 billion worth of gold and silver, representing a growth of 29% compared to last year.