Muscat: Gold prices held steady today as optimism over a potential peace agreement between the United States and Iran outweighed inflation fears driven by rising oil prices and higher global interest rates. Spot gold steadied at $4,543.96 per ounce, after rising more than one percent in the previous session following earlier losses that had pushed it to its lowest level since 30 March 2026. US gold futures for June delivery edged up 0.2 percent to $4,545.50 per ounce.

According to Oman News Agency, US Treasury yields and oil prices fell earlier today as hopes grew that Washington was nearing a deal with Tehran to end the Middle East war, while major stock indices advanced. Minutes from the Federal Reserve's April meeting showed that most policymakers felt tighter monetary policy would likely be appropriate if inflation remains persistently above the central bank's two percent target.

Among other precious metals, spot silver held steady at $75.96 per ounce, platinum slipped 0.2 percent to $1,947.37 per ounce, and palladium edged down 0.1 percent to $1,368.75 per ounce.