World gold prices surged from their lows.

In the trading session on May 28, world gold prices recovered back above $4,500. Photo: Reuters .

During trading on May 28th (US time), the price of gold experienced a sharp decline from $4,457 per ounce to $4,372 per ounce. However, following news that the US and Iran had reached an agreement to extend the ceasefire, the price of the precious metal reversed course and surged back to $4,515 per ounce, recovering more than $120 from its intraday low.

By the end of the session, gold prices had risen $39.5 compared to the previous session, reaching $4,494.9 per ounce, while the June gold futures contract in the US also closed up 1.1% at $4,532.4 per ounce.

In the current trading session, the price of the precious metal continued to rise by more than $10 to the $4,504 /ounce range.

In other precious metals markets, spot silver prices rose 1.3% to $75.6 per ounce, platinum prices were nearly unchanged at $1,918.95 per ounce, and palladium prices fell 1.4% to $1,371.52 per ounce.

Meanwhile, crude oil prices experienced a volatile trading session on May 28, as traders weighed conflicting information regarding progress on an agreement to extend the ceasefire between the US and Iran, according to Reuters.

Specifically, the July Brent crude futures contract closed down 0.6%, at $93.71 per barrel. The US WTI crude futures contract, however, closed up 0.3%, at $88.9 per barrel. By the opening of trading on the morning of May 29th, Brent crude had fallen further by 0.9% to $91.8 per barrel; while WTI crude had dropped 1.1% to $87.8 per barrel.

Regarding developments in the US stock market, all three indices—S&P 500, Nasdaq, and Dow Jones—closed at record highs. The Dow Jones index rose 24.69 points (+0.05%) to 50,668.97 points. The S&P 500 index increased 43.27 points (+0.58%) to 7,563.63 points, while the Nasdaq Composite rose 242.74 points (0.91%) to 26,917.47 points.

Global financial markets have been experiencing mixed reactions as investors closely monitor developments in the US-Iran conflict. Recently, sources revealed to Reuters that the US and Iran have reached an agreement to extend the ceasefire between the two countries and lift restrictions on maritime traffic through the Strait of Hormuz.

However, the agreement has not yet been ratified by US President Donald Trump, while Iranian state media insists the final text has not been completed.

According to Axios and four other sources, the agreement is expected to extend the ceasefire for another 60 days and allow normal shipping traffic through the strategic Hormuz shipping lane, while negotiators continue to address thorny issues such as Iran's nuclear program.

If approved by the leaders of both countries, this would be the biggest step toward peace since the conflict erupted on February 28. News of the potential agreement emerged after a series of retaliatory attacks between the two countries – the latest development since the ceasefire came into effect in early April.

Source: https://znews.vn/gia-vang-the-gioi-tang-dung-dung-tu-day-post1655150.html