Gold rebounds amid easing US-Iran tensions

Gold prices have risen from their lowest levels in over a week, supported by a decline in oil prices following progress in talks between the United States and Iran. Spot transactions recorded $4,207.62 per ounce, while August contracts for gold delivery increased to $4,225.30. This comes as Washington and Tehran pledged to reach a final agreement within 60 days. Meanwhile, the drop in oil prices helped reduce inflationary pressures and boosted the appeal of gold, despite investor concerns about the possibility of US interest rate hikes.

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