Gold prices showed stability on Friday but were set for a weekly decline after U.S. President Donald Trump postponed a decision regarding potential involvement in the Israel-Iran conflict. Spot gold experienced minimal change, holding at $3,368.68 per ounce as of 0142 p.m. EDT (1742 GMT), marking its lowest point since June 12. The index saw a decrease of 1.8% for the week.

U.S. gold futures concluded trading 0.7% lower, settling at $3,385.70.

“Gold is holding steady as Trump backtracks on an ‘imminent’ attack on Iran. For the moment, it truly seems all the bad news is out,” commented Tai Wong, an self-reliant metals trader.

“A drawdown towards $3,250/oz is possible, but dips have been aggressively bought in this gold rally.”

The White House announced on Thursday that Trump will decide within the next two weeks whether the United States will engage in the Israel-Iran air war, increasing pressure on Tehran to enter negotiations.Early on Friday, Iran launched a fresh series of missiles at Israel, impacting areas near residential buildings, offices, and industrial sites in Beersheba. Gold is frequently enough seen as a safe haven during times of political and economic instability.

The U.S. central bank maintained stable interest rates on Wednesday. While policymakers still project rate cuts of half a percentage point this year,they have slightly reduced the anticipated pace to a single quarter-percentage-point cut in both 2026 and 2027.

A high-interest-rate environment typically has a negative impact on gold, as it is a non-yielding asset.

“We still see sound demand from safe-haven seekers and central banks, which should provide sound support to gold prices on current levels,” stated Carsten Menke, an analyst at Julius Baer.

Spot silver decreased by 1% to $36.02 per ounce, showing a weekly decline of 0.7%.Palladium experienced a slight loss of 0.1% to $1,049 but increased by 2.1% over the week. Platinum fell by 3.1% to $1,266.72, but it is on track for its third consecutive weekly gain.