Gold prices are consolidating as traders weigh the potential impact of possible talks between the United States and Iran and the imminent expiration of a ceasefire. Spot gold was largely unchanged, trading at $4,823.43 per ounce. The US and Iran are scheduled to hold peace talks this week in Islamabad. Media reports, citing a White House official, indicated that US President Donald Trump is not inclined to extend the ceasefire set to expire on Wednesday evening. "Gold's trajectory will remain closely tied to developments in the Middle East and their influence on energy markets and inflation expectations," said Konstantinos Chrysikos, Head of Client Relationship Management at Kudotrade, in an email.