Gold prices edged up on Tuesday, having touched their lowest in over a week earlier in the session as safe-haven demand for the metal eased on optimism about a potential ceasefire between Israel and Hezbollah militants in Lebanon.

Israel is potentially days away from a cease-fire agreement with Lebanon’s Hezbollah, the Israeli ambassador to the US said. Prices extended losses after Axios reported that Israel and Lebanon have accepted the terms of a ceasefire agreement. The parties haven’t yet announced an agreement, it said.

Israel is reportedly moving toward a ceasefire agreement with Hezbollah in Lebanon after nearly a year of fighting escalated into an all-out war

Gold prices plunged over 3% on Monday, breaking a five-session rally to its highest in nearly three weeks, as reports of Israel nearing a ceasefire with Hezbollah, coupled with Trump's nomination of Scott Bessent as the U.

Front-month gold futures fell Monday in the largest one-day decline by dollar amount since November 2020, as news of a potential ceasefire agreement between Israel and Hezbollah in Lebanon further undermined safe-haven demand for the metal,