Gold climbed modestly in early U.S. trading after President Donald Trump said Washington would extend its cease‑fire with Iran until the Iranian leadership submits a unified proposal. The move lifted gold prices, reversing a recent slide that saw front‑month Comex contracts dip 2.25% on Tuesday. Spot gold is now $4,732.45 an ounce, up 0.3% for traders in the current market.

Trump’s statement comes after the original cease‑fire deadline moved to Wednesday evening, a period during which oil prices have spiked and Middle Eastern tensions have intensified. Gold, a traditional safe‑haven, often reacts to geopolitical uncertainty. The extension signals that the U.S. remains engaged in diplomatic talks, potentially reducing risk premiums that have pushed bullion lower for investors worldwide and institutional traders.

With gold up 0.3%, investors now face a clearer picture of how U.S. policy might shape market volatility. The extension removes an immediate catalyst for further downward pressure, but the absence of a firm end date keeps uncertainty alive. Market participants will monitor Iran’s response and subsequent diplomatic moves to gauge whether gold can sustain its recent gains shortly ahead.