Ceasefire

Spot gold extended gains to around $4,585 per ounce as reports of a US-Iran ceasefire extension eased inflation concerns tied to energy supply disruptions. Silver jumped 1.2% to $78.68 while the Bloomberg Dollar Index fell marginally, supporting precious metals. The move reflects reduced geopolitical premium and shifting Fed expectations as oil price risks subside. Gold has traded in a narrow range since its earlier war-related decline, balancing safe-haven demand against prospects of easier policy if growth concerns persist.

The truce between Israel and Lebanon will extend another three weeks, Trump announced, buying more time for permanent border arrangements that neither side seems ready to finalize.

Asian stocks surged 0.7-8% with oil dropping below $100 as ceasefire hopes spread, but strategists warn the rally depends entirely on Hormuz reopening. Iran earns $139 million daily from oil exports during the crisis, creating financial incentives to prolong closure despite diplomatic pressure.