Gold rises 3% on US-Iran deal
Gold prices increased by 2.7% to reach $4,334.48 per ounce. During spot trading, it hit its highest level since early June, following a preliminary agreement between the United States and Iran to reopen the Strait of Hormuz. This development led to a decline in oil prices and eased economic concerns related to energy markets and U.S. policies on raising interest rates.
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