PRECIOUS METALS | Gold Sees Modest Gains Amid US-Iran Ceasefire Talks Breakdown

Gold prices experienced a slight increase, rising less than 1% on the day and 0.46% over the week, as discussions between the United States and Iran regarding a ceasefire came to a halt. According to NS3.AI, the Commitment of Traders (COT) data revealed that speculators reduced their long positions by 10,314 contracts. Meanwhile, commercial traders increased their long positions by 5,121 contracts and decreased their short positions by 742 contracts. In the options market, GLD options volume indicated a rise in hedging activities, although the open interest remained predominantly in favor of call options.