Hormuz deal boosts gold above $4,500
Gold prices rose slightly on May 29th as investors monitored reports of a possible agreement between the United States and Iran to extend a ceasefire and lift restrictions on navigation in the Strait of Hormuz, reflecting a state of wait-and-see in the market. Although the price declined yesterday to its lowest level in two months, the possibility of an agreement boosted risk appetite and reduced demand for safe assets, as markets awaited the signing of the deal and its potential impact on tensions and inflation.
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