Gold steady with US-Iran talks and central bank decisions in focus

Gold held steady on Tuesday as investors awaited more clarity on stalled peace talks between the United States and Iran, as well as key central bank decisions this week to see if the Middle East conflict has altered the interest rate outlook.

FUNDAMENTALS

* Spot gold was up 0.2% at $4,693.04 per ‌ounce, as ⁠of 0053 ⁠GMT. U.S. gold futures for June delivery rose 0.3% to $4,707.80.


* U.S. President Donald Trump discussed a new Iranian proposal on resolving the war with Tehran with his top national security aides on Monday, as the conflict remains in a stalemate with energy supplies from the region reduced.

* A U.S. official said on Monday that Trump is ⁠unhappy with ‌the Iranian proposal because it did not address Iran's nuclear programme.

* Analysts have raised their annual gold price forecasts, ⁠a Reuters poll showed, with strong central bank demand and economic uncertainty expected to offset risks from surging inflation and hawkish policy bets due to the Middle East conflict.

* Analysts have lowered their 2026 platinum and palladium price forecasts, with speculative momentum waning as risks from the Middle East conflict threaten economic growth and the auto sector, heightening market volatility.

* ‌The U.S. Federal Reserve is widely expected to hold interest rates steady on Wednesday.

* Investors will also be focusing on other central bank decisions ⁠this week, including from the Bank of Japan, the European Central Bank and the Bank of England.

* The Senate Banking Committee is expected on Wednesday to advance Kevin Warsh's nomination as Fed Chair to the full Senate, with a vote now set for 10 a.m. EDT (1400 GMT).

* Spot silver rose 0.5% to $75.91 per ounce, platinum gained 0.7% to $1,997.22, while palladium was steady at $1,476.47.

DATA/EVENTS (GMT)

1000 France Unemp Class-A SA Mar

1400 US Consumer Confidence Apr

:: Japan JP BOJ Rate Decision 28 Apr