De-escalation hopes boost gold and reduce oil
Reports indicated that the price of gold rose by 0.7%, reaching approximately $4,067 per ounce, after U.S. President Donald Trump reversed plans for a new attack on Iran. This development boosted hopes for a quick agreement between the United States and Iran and contributed to rising gold prices and declining oil prices, with Brent crude dropping by 1.42% to $89.45 per barrel.
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