%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment The price of gold is trending higher after U.S. President Donald Trump indefinitely extended a ceasefire with Iran. The ceasefire extension has eased worries that rising energy prices will spark inflation and lead to higher interest rates. Spot gold's (TVC: $GOLD ) price is up nearly 2% in early trading on April 22 and changing hands at just under $4,800.00 U.S. per ounce. Gold has struggled since the U.S. attacked Iran on Feb. 28 of this year. The precious metal's price hit an all-time high of $5,598.30 U.S. per ounce on Jan. 29. But now, gold appears to be finding its footing again after Trump indefinitely extended the ceasefire with Iran to allow for more peace talks. It's not clear though if Iran or U.S. ally Israel have also agreed to extend the ceasefire, which began two weeks ago. Still, stocks and cryptocurrencies are gaining on the ceasefire news, while the U.S. dollar and oil prices have turned lower. Higher crude prices can cause inflation by raising transportation and production costs. That rise in inflation can lead central banks to raise interest rates, which is bad for gold. As a non-yielding asset, gold performs best when interest rates are lower. The yellow-coloured metal also does better when the U.S. dollar softens. Futures markets are currently pricing in one possible 25-basis point interest rate cut from the U.S. Federal Reserve at the end of this year.