Khaberni - Gold is on track to record a fourth weekly gain, after U.S. President Donald Trump expressed his optimism about the possibility of the United States and Iran reaching a permanent ceasefire that ends the war that has shaken markets and increased inflation fears.
The precious metal settled near $4,795 per ounce in early trading, after rising by about 1 percent this week, according to the economic site Bloomberg.
Although gold has regained some of its losses in recent weeks, it is still down about 9 percent since the beginning of the conflict in late February, as the liquidity crisis in the early days of the war led investors to sell their holdings to cover losses elsewhere.
Spot gold rose 0.1 percent to $4,793.75 per ounce, silver rose 0.4 percent to $78.75 per ounce, while platinum and palladium saw slight increases.
