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Gold continues to rise on the back of a preliminary US-Iran agreement
Another positive day for the safe-haven asset, which gains 0.6% thanks to the preliminary peace agreement between the United States and Iran. Concerns about a potential interest rate hike by the Federal Reserve ease, while investors await further developments
[Source: Market screener]
U.S.–Iran peace agreement reached: gold soars above $4,300 per ounce
Gold prices rose in today’s trading thanks to the peace agreement between the United States and Iran, an event that reduced expectations of an interest rate hike by the Federal Reserve. The reopening of the Strait of Hormuz is weighing on oil prices, while the U.S. dollar is down 0.2%. The safe-haven asset gained 3%, reaching $4,366.8 per ounce.
Gold Stabilizes Following Weak U.S. Employment Report
Gold prices remained steady in today’s trading after the release of the U.S. employment report. The disappointing results offset inflationary pressures and concerns about a potential interest rate hike at the Federal Reserve meeting scheduled for next week. Gold is currently trading around $4,075 per ounce.
[Source: Market screener]
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