Gold Rally Loses Momentum — Trump Claims Israel Accepts 60-Day Ceasefire Deal as Gaza Tensions Show Signs of Cooling

TradingKey – According to reports citing Israeli officials and carried by U.S. media outlets, Israel has agreed to the conditions for a 60-day ceasefire in Gaza , marking a potential breakthrough in the ongoing conflict.

Israeli Prime Minister Benjamin Netanyahu's senior advisor, Ron Dermer , is set to arrive in Washington this week to begin formal discussions with the Trump administration to push the agreement forward.

Trump said on Truth Social that Israel has accepted the terms for a 60-day ceasefire, and his administration will use this window to push for a lasting resolution to the conflict.

Trump also noted that Qatar and Egypt have been actively mediating the negotiations and are prepared to present Hamas with a final proposal. He warned the militant group that rejecting the deal would only lead to worse consequences.

This isn’t the first time a 60-day ceasefire proposal has emerged. On May 29 , Israel reportedly agreed to a temporary truce plan proposed by the U.S., but the effort stalled when Hamas rejected the terms , saying they did not address Palestinian demands. That round of talks ultimately collapsed without resolution.

Back in January 2025 , both sides had briefly agreed to a ceasefire. However, negotiations broke down during the second phase, and on March 18 , the Israeli military resumed operations in Gaza, citing Hamas’ refusal to accept U.S.-proposed terms for extending the ceasefire and securing the release of hostages. The military said strikes would continue until mission objectives were met.

The latest developments, combined with a weaker U.S. dollar, have affected market sentiment. As a result, gold prices — which had previously surged amid rising geopolitical tensions — are showing signs of hesitation and consolidation.

[Gold price chart, source: TradingKey]