Oil Prices Drop as U.S.-Iran Peace Deal Eases Supply Concerns 
Fed Chair Kevin Warsh Signals Policy Overhaul as Hawkish Rate Outlook Rattles Markets 
Asian Stocks Surge as Oil Prices Fall and Strong US Dollar Weighs on Markets 
Canada Imposes 10% Tariff on Canned Vegetable Imports to Protect Domestic Industry 
Dollar Surges After Fed Holds Rates Steady, Signals Potential Tightening Ahead 
Japan Inflation Stays Below BOJ Target Despite Rate Hike and Rising Energy Cost Risks 
Asian Currencies Stabilize as Dollar Holds Near Two-Month High After Fed Hawkish Signal 
Trump and Iran Sign Framework Peace Deal in France Amid Ongoing Middle East Tensions 
Australia Eases Capital Gains Tax Reforms to Support Small Businesses and Startups 
US Stock Futures Jump on Reports of Preliminary US-Iran Peace Deal Despite Fed’s Hawkish Outlook 
Asian Stocks Advance as Nikkei Nears Record High Ahead of Fed Decision 
German Industry Employment Falls to Lowest Level in a Decade 
Gold Prices Slide as Hawkish Fed and Strong Dollar Weigh on Bullion 
US Stock Futures Slip After Wall Street Rally Fueled by US-Iran Deal and Chipmaker Surge 
German Auto Suppliers Turn Bearish as Investment and Jobs Shift Overseas 
Europe EV Demand Surges as Fuel Prices Rise Amid Iran Conflict 
Gold prices climbed sharply on Wednesday, nearing a three-week high after President Donald Trump announced a temporary ceasefire with Iran, easing geopolitical tensions that had been gripping global markets. Spot gold gained 1.6%, trading at $4,778.95 per ounce as of 05:46 ET, after touching its strongest level since March 19. June gold futures advanced even further, rising 2.6% to $4,807.34 per ounce.
The ceasefire came after Pakistan brokered last-minute diplomatic negotiations. Trump announced via social media that military operations against Iran would be paused for two weeks, stating that the U.S. had already met its primary military objectives. The temporary truce is tied to Iran guaranteeing the safe reopening of the Strait of Hormuz, a critical global shipping lane responsible for approximately 20% of worldwide oil flows. Iran indicated a conditional willingness to allow safe passage through the strait, provided hostilities ceased and vessels coordinated with Iranian maritime authorities.
Financial markets responded quickly to the news. Oil prices tumbled more than 15% as supply disruption fears faded, while risk assets rallied broadly. The U.S. dollar index weakened, making gold more affordable for international buyers and adding further upward momentum to bullion prices.
Gold had previously faced headwinds last month when surging oil prices ignited inflation concerns, leading investors to anticipate that the Federal Reserve might keep interest rates elevated for a prolonged period. Since gold typically underperforms in high-rate environments, rising energy costs had temporarily weighed on the precious metal's appeal.
Investors are now watching closely for Friday's U.S. Consumer Price Index report for March, which is expected to shed light on how higher fuel costs have filtered into broader inflation. Economists anticipate headline inflation accelerated monthly, a development that could further complicate the Federal Reserve's monetary policy path going forward.
