Market analysis: Continued uncertainty over Iran war puts pressure on gold prices

On April 28, the continued uncertainty of the Iranian war put pressure on gold prices, with the main international gold futures contract falling by 1%. The Wall Street Journal reported that Iran has made a new proposal to stop attacks in the Strait of Hormuz in exchange for a complete end to the war and the lifting of the U.S. blockade of Iranian ports. In addition, discussions on Iran's nuclear program will also be put on hold. RJOFutures pointed out in a research report that gold prices currently appear to be in a consolidation stage and "are ready to prepare for the next round of major directional trends."