On the morning of 18/6, the world spot gold price increased by nearly 60 USD, reaching 4,311 USD an ounce. This surge followed news that the presidents of My and Iran had signed an agreement aimed at ending a conflict lasting nearly 4 months.

World gold price surged on the morning of 18/6, after a previous sharp decline. Chart: *Kitco*.

"The Islamabad memorandum has been finalized with the presidents' signatures. Now is the time to verify the agreement's practical implementation", Iran's Foreign Ministry spokesperson Esmaeil Baqaei stated on 18/6, according to the country's IRNA news agency. President My Donald Trump also confirmed he signed the document at the Palace of Versailles, on the sidelines of the G7 summit in Phap.

The two-party agreement comprises 14 points. These include an immediate end to fighting on all fronts, My lifting blockades on Iran's ports, and the establishment of a 300 ty USD reconstruction fund. The agreement also allows for the immediate reopening of the Hormuz Strait.

Gold has faced pressure since the Trung Dong conflict erupted. High energy prices, resulting from the Hormuz blockade, fueled inflation concerns, increasing the likelihood of central banks raising interest rates. This situation is unfavorable for gold, as it does not yield interest.

On 17/6, the world gold price closed down nearly 75 USD an ounce, dropping to 4,255 USD. The reason was the Cuc Du tru lien bang My (Fed) maintained its benchmark interest rate at this week's meeting but forecasted rate increases later this year.

The CME FedWatch interest rate tracker shows investors currently predict a 78% probability of a December rate hike, a significant increase from 61% before the Fed meeting. The strengthening dola My also made gold more expensive for buyers using other currencies.

Silver, platinum, and palladium prices followed a similar trend. After declining by more than 3% on 17/6, the prices of these metals rose again this morning, by nearly 2%.

Ha Thu (according to *Reuters*, *Kitco*)