Gold moved in a narrow range as conflicting signals on the progress of US-Iran ceasefire talks continued to keep traders guessing over whether central banks may need to keep interest rates higher for longer to combat inflation.
Bullion was trading around $4 540 an ounce, little changed from a week earlier. Tehran is in the process of responding to a text submitted by the US, which “has narrowed the gaps to some extent,” the semi-official Iranian Students’ News Agency reported on Thursday, without saying where it got the information.
