A decline in inflation-related concerns.

Gold recorded a 0.1% increase in spot transaction

Gold topped the economic scene on Friday after a period of relative price stability, continuing its upward trajectory for the fourth consecutive week, amid a decline in inflation-related concerns and easing expectations regarding a potential increase in U.S. interest rates, driven by growing hopes of reaching political understandings between the United States and Iran.

Gold recorded a slight rise of 0.1% in spot transactions, reaching $4,794.47 per ounce, while its weekly gains reached around 1%, indicating continued demand for the metal as a safe haven despite rapid geopolitical shifts.

As for futures, U.S. gold contracts for June delivery rose by 0.2% to $4,816.40, reflecting a state of cautious optimism in the markets regarding the future movements of the precious metal.

This performance came at a time when a 10-day ceasefire agreement between Lebanon and Israel came into effect, coinciding with statements by U.S. President Donald Trump, in which he indicated the possibility of holding a new meeting with Iran early next week, boosting optimism about easing tensions and ending the ongoing confrontation.

Despite this improvement, markets still recall the sharp decline in gold, which lost more than 8% of its value since the escalation with Iran in late February, amid concerns over the impact of rising energy prices on inflation levels and global monetary policies.

As for other precious metals, they also witnessed positive movements; silver rose by 0.5% to $78.76 per ounce, platinum increased by 0.3% to $2,091.45, and palladium also rose by the same percentage to reach $1,555, amid ongoing anticipation of global market developments.