Gold prices today, Monday, June 15: Gold moves higher following U.S., Iran ceasefire agreement

Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure .

Gold ( GC=F ) August futures opened at $4,289.40 per troy ounce on Monday, up 1.2% from Friday's closing price of $4,238.80. Gold moved even higher in early trading, rising to $4,360.40 by 6:50 a.m. ET.

The most significant push toward peace in the Middle East occurred over the weekend, and gold prices have responded. The U.S. and Iran have agreed to a renewed ceasefire, opening the door to a 60-day period during which final negotiations will be held. An official agreement is expected to be signed on Friday, paving the way to reopening the Strait of Hormuz and resuming the flow of oil and natural gas around the globe.

The Fed meets this week for a policy-setting meeting where the vast majority of market observers expect it to keep rates unchanged. The ceasefire announcement by the president on Sunday has already driven oil prices ( BZ=F ) lower, even though resuming a normal flow of oil through the Strait of Hormuz would take months after an agreement is signed.

For now, the headwinds for higher gold prices have been subdued, at least somewhat.

The opening price of gold futures on Monday was up 1.2% from Friday's closing price. Here's a look at how the opening gold price has changed versus last week, month, and year:

For context, the one-year gain for gold was 95.6% on Jan. 29.

24/7 gold price tracking: Don't forget you can monitor the current price of gold on Yahoo Finance 24 hours a day, seven days a week.