Gold Hits Two-Week Low

On Tuesday, gold prices declined to nearly a two-week low after President Donald Trump announced that Iran and Israel had agreed to a 12-day ceasefire, reducing demand for the precious metal as a safe-haven asset.

Gold in the spot market fell by 0.6 percent to $3349.89 per ounce by 0030 GMT, after hitting its lowest level since June 11. Meanwhile, U.S. gold futures dropped 0.9 percent to $3364.20 per ounce.

Among other precious metals, silver in the spot market saw a slight increase of 0.1 percent to $36.03 per ounce. In contrast, platinum decreased by 0.3 percent to $1260.78, while palladium fell by 0.1 percent to $1043 per ounce.