Gold steady as markets focus on potential US-Iran peace deal

India govt has dismissed viral claims of an evacuation plan via Fujairah port as false. Meanwhile, Trump has rejected Iran's peace proposal as totally unacceptable, oil prices have surged past 99 dollars a barrel, and 40 nations are meeting to plan a naval mission through the Strait of HormuzOffshore vessel 'MD ZEN 532' at the Port of Fujairah, as the U.S.-Israel conflict with Iran limits marine traffic in the Strait of Hormuz, in Fujairah(REUTERS)The Indian government has moved to quash circulating claims that it is working with the United Arab Emirates to evacuate Indian nationals through Fujairah port amid the ongoing Iran war, calling the reports entirely without basis.India-UAE Fujairah Evacuation Claim Is False, Says Ministry of External AffairsAmid escalating tensions in the Middle East and rising anxiety among Indian nationals in the region, a claim circulating widely online alleged that India was coordinating with the United Arab Emirates to evacuate its citizens through Fujairah port. The Indian government has now formally denied those reports."There is no basis in fact for such a story. There is no evacuation being planned. Please stay alert against such false and baseless claims," the Ministry of External Affairs posted on X on Monday.The clarification comes as the broader Iran war enters a dangerous new phase, with peace negotiations between Washington and Tehran failing to produce an agreement and oil markets reacting sharply to the prospect of renewed conflict.Trump Rejects Iran's Peace Proposal, Calls Terms Totally UnacceptableUS President Donald Trump has rejected Tehran's response to Washington's latest peace proposal, describing Iran's counter-terms in unambiguous language on his Truth Social platform."I have just read the response from Iran's so-called 'Representatives.' I don't like it -- TOTALLY UNACCEPTABLE!" Trump said.Iran had on Sunday responded to the latest US proposal and warned it would not hold back from retaliating against any new US strikes, nor permit additional foreign warships into the Strait of Hormuz. Trump did not disclose the specific contents of Tehran's counter-proposal but made clear he would not accept them.The breakdown in talks rattled global energy markets almost immediately. International benchmark Brent crude surged 4.65 per cent to 99.95 dollars a barrel during Monday morning trade in Asia. The benchmark US oil contract West Texas Intermediate also climbed by just over 4 per cent to 105.5 dollars a barrel, as investors braced for further disruption to oil supplies through the strait, where Tehran has imposed a partial blockade.Netanyahu Says War Will Not End Until Iran's Nuclear Sites Are DismantledIsraeli Prime Minister Benjamin Netanyahu, whose forces launched the war on Iran alongside the United States on 28 February, has added a further condition to any potential end to the conflict, insisting that Iran's nuclear infrastructure must be eliminated before hostilities can cease."It's not over, because there's still nuclear material -- enriched uranium -- that has to be taken out of Iran. There's still enrichment sites that have to be dismantled," Netanyahu told CBS's 60 Minutes.The statement signals that even if Washington and Tehran were to reach a diplomatic agreement, Israel's involvement introduces an additional layer of conditions that would need to be met before a stable ceasefire could take hold.40 Nations to Outline Military Contributions for Strait of Hormuz MissionMore than 40 nations are meeting on Monday to detail their military contributions to a European-led naval mission designed to escort commercial ships safely through the Strait of Hormuz once a stable ceasefire is in place.The countries are expected to offer demining, escorting and air policing capabilities as part of a defensive operation led by the United Kingdom and France."We are turning diplomatic agreement into practical military plans to restore confidence for shipping through the Strait of Hormuz," s

As the United States and Iran continue to work towards a peace deal, analysts have now warned that if talks collapse, Washington could quickly target Tehran’s missile systems, naval assets, command networks, and IRGC infrastructure.US may target Iran to degrade its military capabilities if peace talks fail, warn analysts(AP)As the United States and Iran continue to work towards agreeing on a framework agreement that would effectively end the war, analysts said that if talks failed, Washington would move quickly to degrade Tehran's military capabilities, Fox News reported Saturday (local time).Retired Army Col. Seth Krummrich, a former Joint Staff planner and current Vice President at Global Guardian, added that such a campaign would first target missile systems, naval assets, and command networks before escalating to more controversial targets.His remarks come at a time when US and Iranian negotiators are still working toward what officials call a preliminary framework agreement, essentially a one-page outline intended to serve as the foundation for broader talks focused on the Islamic Republic's nuclear programme and possible sanctions relief. However, deep mistrust between both sides has stalled the negotiations and raised concerns over what could happen if diplomacy fails.Not starting at zero: AnalystKrummrich said, "We’re not starting at zero," and added, "We’re both starting at minus 1,000 because neither side trusts each other at all. This is going to be a pretty hard process going forward."Echoing Krummrich, retired Air Force Lt. Gen. David Deptula said that if talks break down, any renewed conflict is likely to become a "contest for escalation control," where Tehran would seek to impose costs without provoking regime-threatening retaliation, while Washington would work to strip away the Islamic Republic's remaining leverage.Referring to Iran's Islamic Revolutionary Guard Corps (IRGC), Deptula said, "The capabilities that would come into focus are the ones Iran uses to generate coercive leverage: ballistic missiles, cruise missiles, air defence systems, maritime strike assets, command-and-control networks, IRGC infrastructure, proxy support channels, and nuclear-related facilities."Iran's core military remains intact: AnalystsRP Newman, a military and terrorism analyst and Marine Corps veteran, said that the US has killed less than one per cent of IRGC troops, adding that if the talks failed, the force would still be able to carry out operations.However, targeting the IRGC is far more complex than eliminating the country's senior leadership, according to Krummrich, who added that this is not just a group of leaders at the top that can be killed, but an organisation that, over the last 47 years, has percolated down to every level.US-Iran peace talks hang in the balanceThe remarks from analysts come at a time when US President Donald Trump has repeatedly threatened Tehran that if negotiations collapse, Washington could resume bombing the Islamic Republic, even hinting before the recent ceasefire was implemented that the US could target Tehran's energy infrastructure and key economic assets.The developments come after US Secretary of State Marco Rubio on Friday (local time) expressed optimism that they would receive a response from Tehran regarding the latest proposal on the same day. However, the Islamic Republic only acknowledged the proposal, with its foreign ministry spokesperson stating that they are reviewing it.Earlier on Thursday, a senior US official confirmed that American forces struck Iran’s Qeshm port and Bandar Abbas, key locations near the Strait of Hormuz, while insisting the operation did not mark a restart of the war or the end of the ceasefire. The strike on one of Tehran's oil ports came two days after the Islamic Republic launched 15 ballistic and cruise missiles at the United Arab Emirates (UAE)'s Fujairah Port, drawing anger from Gulf allies. Defence Secretary Pete Hegseth and Joint Chiefs Chairman G

Gold prices held largely steady near a one-week high on Thursday as investors remained on the sidelines awaiting further details on a potential U.S.-Iran peace deal.

FUNDAMENTALS * Spot gold was unchanged at $4,688.16 per ounce, as of 0059 GMT, after rising about 3% on Wednesday to its highest level since April 27.

‌U.S. gold ⁠futures for ⁠June delivery rose 0.1% to $4,696.60. * Iran said on Wednesday it was reviewing a U.S. peace proposal that sources said would formally end the war while leaving unresolved the key U.S. demands that Iran suspend its nuclear programme and reopen the Strait of Hormuz. * Stocks surged to fresh records, dollar and oil prices dropped on Wednesday after ⁠a report ‌that the United States and Iran are closing in on an agreement to end their war. [MKTS/GLOB] * On the data ⁠front, U.S. private payrolls increased more than expected in April, the ADP's national employment report showed on Wednesday.
Investors now await the monthly U.S. employment report, due on Friday, which will serve as a test of whether the U.S. economy remains resilient enough to keep the Federal Reserve's monetary policy on hold, or whether a softening labour market could revive the case ‌for rate cuts. * Fed officials said on Wednesday the ongoing U.S.-backed war with Iran is raising the risk of a sustained inflation shock, with ⁠continued high oil prices and developing concerns about problems with global supply chains.
SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.2% to 942.50 metric tons on Tuesday. [GOL/ETF] * Spot silver fell 0.2% to $77.16 per ounce, platinum gained 0.1% to $2,062.50, and palladium was down 0.3% at $1,533.25. DATA/EVENTS (GMT)

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Gold steady as markets focus on potential US-Iran peace deal

Fact Check: Is India working with UAE to evacuate citizens via Fujairah port amid Iran war? Govt clarifies

Fact Check: Is India working with UAE to evacuate citizens via Fujairah port amid Iran war? Govt clarifies

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If US-Iran peace talks collapse, Washington may target Tehran's military assets, warn analysts: Report

Gold steady as markets focus on potential US-Iran peace deal

Fact Check: Is India working with UAE to evacuate citizens via Fujairah port amid Iran war? Govt clarifies

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Fact Check: Is India working with UAE to evacuate citizens via Fujairah port amid Iran war? Govt clarifies

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