Gold prices fall in global markets after Iran-Israel ceasefire

Gold prices have fallen in global markets after the ceasefire between Iran and Israel came into effect. Spot gold prices fell by 1.5 percent to $3,316 on Tuesday (June 24). Earlier, it had fallen by as much as 2 percent at one point. As a result, the price reached its lowest level since June 9. US gold futures prices fell by 1.8 percent to $3,333.

Analysts say that the decrease in tension in the Middle East is the reason for the decline in gold prices. Investors have now started turning to risky investments, leaving safe assets in the hope of profit.