Gold steadies at $4,823.43 per ounce as traders eye the end of the U.S.–Iran cease‑fire. Washington and Tehran are set to meet in Islamabad this week, while a White House official warned the deadline would not be extended past Wednesday evening. The metal’s price reflected a balance between geopolitical risk and inflation expectations for global investors in the commodities market.

Spot gold’s flat trajectory underscores uncertainty over Middle East dynamics and their spill‑over into energy prices. Analysts note that any escalation could tighten oil supply, pushing prices higher and boosting gold as a safe‑haven. Conversely, a breakthrough in talks might ease volatility, pulling the metal back toward its recent consolidation trend for traders watching the market.

With the cease‑fire deadline looming, market participants will focus on daily developments in Islamabad and any U.S. policy shifts. The current flatness in gold prices suggests that investors are waiting for a clear signal before committing to a directional bet. Until then, the metal remains a barometer for geopolitical risk rather than a moving target for short‑term traders.