Gold rebounds on Iran talks progress
Gold prices rose after falling to their lowest level in over a week, supported by signs of progress in the peace talks between Iran and the United States, despite ongoing expectations of an interest rate hike in the US continuing to negatively impact the performance of the precious metal. The spot gold price increased by 0.9% to reach $4,197.41 per ounce, after dropping last Friday to the lowest level since June 11. Meanwhile, talks held in Switzerland between Iranian and American officials indicate good progress, with an agreement on a roadmap to reach a final deal within 60 days, boosting market stability expectations.
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