Gold reaches 7-week high at $4,254
Gold prices rose for the fourth consecutive session, touching a seven-week high of around $4,255 per ounce, supported by a weaker dollar and expectations of reopening the Strait of Hormuz. Additionally, gold futures traded at approximately $4,313. Other precious metals showed mixed performance, with silver declining while platinum and palladium increased. This trend was driven by markets hoping for a de-escalation between Washington and Tehran, which in turn supported higher gold prices and led to a decline in oil prices.
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