Gold climbs on US-Iran deal
The rise in gold prices of over 2.5% was due to the announcement of an agreement between the United States and Iran to end their conflict, including lifting the sanctions imposed on Iran and reopening the Strait of Hormuz. This agreement led to a drop in oil prices by more than 4% and the dollar falling to its lowest level in 10 days, with expectations that gold will continue to be supported and inflation outlooks will improve following the establishment of a framework for peace.
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