Gold prices remained steady on Friday, aiming for a fourth weekly gain, trading at $4,794.47 per ounce, buoyed by hopes for a U.S.-Iran peace deal. U.S. gold futures for June delivery also saw a slight rise, reaching $4,816.40. The optimism stems from a recent 10-day ceasefire between Lebanon and Israel and potential discussions between U.S. President Donald Trump and Iranian officials. Despite an 8% decline in gold prices since the onset of the Iran war in late February, the market is reacting positively to stabilizing labor conditions, as evidenced by a decrease in new unemployment benefit applications. The SPDR Gold Trust, the largest gold-backed exchange-traded fund, reported a 0.2% increase in its holdings, now at 958.65 metric tons. However, concerns over persistent inflation and elevated interest rates remain as Federal Reserve officials reassess their monetary policy approach.