Gold Steady as Markets Focus on Potential US-Iran Peace Deal
12 Articles
12 Articles
Metal has benefited from the relief in the oil risk award in recent days and has recorded three consecutive sessions of gains
Gold rate up amid focus on potential US-Iran peace deal; dimming US Fed rate cut hopes cap gains
Gold rate rose on MCX on Thursday morning. The big relief for gold traders is the prospects of a peace deal between the US and Iran, which can lead to the reopening of the Strait of Hormuz, a critical waterway for global oil trade.
Singapore: The price of gold rose slightly today Friday and is moving towards weekly gains as fears of inflation and high interest rates receded, and investors continued to be optimistic that a peace agreement could be reached between the United States and Iran despite renewed fighting.
Gold steady near one-week high
Spot gold was unchanged at $4,688.16 per ounce Gold prices held largely steady near a one-week high on Thursday as investors remained on the sidelines awaiting further details on a potential Iran-U.S. peace deal. Spot gold was unchanged at $4,688.16 per ounce, as of 0059 GMT, after adding nearly 3 per cent on Wednesday to its highest level since April 27. U.S. gold futures for June delivery rose 0.1 per cent to $4,696.60. Iran said on Wednes…
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