【Gold Price Trends】Gold Price Ends Nine-Day Losing Streak! Spot Gold Climbs Back Above $4,500 Per Ounce Hong Kong Gold Price Per Tael Surges 1,800 Dollars in Single Day

Gold prices end nine consecutive declines! The US reportedly seeks a ceasefire to advance diplomatic talks with Iran. Amid easing war tensions, spot gold prices surged above $4,500 on Wednesday, rising over 2% to $4,585.

President Trump stated that Iran has presented a “gift” demonstrating sincerity in negotiations, related to energy transportation through the Strait of Hormuz. According to Axios, Washington and regional mediators are discussing the possibility of holding high-level peace talks as early as Thursday, but are still awaiting a response from Tehran.

Following the news, oil prices declined while stock markets rose. Since the outbreak of war with Iran over three weeks ago, gold prices have generally moved in tandem with stocks and inversely with oil prices.

According to data from Mingtiandi, at 9:30 AM Hong Kong time on Wednesday (25th), the bank’s 999.9 fine gold price closed at HKD 41,400 per tael, up HKD 1,800 from the previous day, surpassing the HKD 40,000 level. However, it remains 8,600 HKD or 17% below the high of HKD 50,000 seen at the end of January.

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Additionally, reports indicate that central banks around the world are selling gold to defend their currencies. The Central Bank of Turkey is preparing a more comprehensive toolkit to counter the lira’s volatility caused by the war, including potentially utilizing its large gold reserves. Sources reveal that the bank has discussed possible gold-for-foreign exchange swap transactions in the London market.

Since 2022, large-scale gold reserves held by central banks have been a key factor driving a multi-year gold bull market.

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