Dhaka, June 26 (V7N) – Gold prices have dropped significantly in the global market following the announcement of a ceasefire between Iran and Israel. On Tuesday (June 24), spot gold prices fell by 1.5% to $3,316 per ounce, marking the lowest level since June 9.

At one point, the price had dropped nearly 2%, reflecting a strong market reaction to the easing of geopolitical tensions.

Meanwhile, US gold futures also declined by 1.8% to $3,333 per ounce, further signaling a shift in investor sentiment.

According to analysts, the drop in gold prices is directly linked to the reduction in conflict in the Middle East.

“With tensions cooling down, investors are moving away from traditional safe-haven assets like gold and shifting toward riskier investments in hopes of higher returns,” said one market analyst.

Gold is often considered a safe asset during times of geopolitical uncertainty, but the ceasefire has renewed investor confidence in equity and other volatile markets.

END/RH/AJ