Gold Jumps on Weaker Dollar, Middle East Peace Hopes
Spot gold climbed 1.7% as a weaker dollar and hopes for a U.S.-Iran peace deal lifted demand, traders said.
- Gold prices rose 1.7% to $4,633.31 per ounce on Wednesday, driven by a weaker dollar and optimism surrounding a potential Iran peace deal.
- President Donald Trump announced on Tuesday a brief pause to escort operations in the Strait of Hormuz, citing progress toward a comprehensive peace deal with Iran.
- Secretary State Marco Rubio told reporters that "operation Epic Fury is concluded," confirming the ceasefire between the nations remains intact despite earlier tensions.
- Spot silver rose 2.7%, platinum gained 1.7%, and palladium increased 2.1% as oil prices retreated; Kelvin Wong, a senior market analyst at OANDA, warned re-escalation could trigger profit-taking.
- Investors now await the non-farm payrolls release later this week, which will test whether the Federal Reserve maintains its current policy stance or pivots toward rate cuts.
28 Articles
28 Articles
Deccan Herald
NewsDrumGold, silver advance on weak dollar amid US-Iran peace hopes
Gold prices rose further by Rs 600 to Rs 1.56 lakh per 10 grams in the local market here on Thursday, following a pullback in the US dollar and easing crude oil prices amid hopes for a US-Iran peace deal.
Gold hits two-week high as US–Iran peace hopes weigh on dollar and oil
Gold climbed to a two-week high on Thursday, buoyed by a weaker dollar and falling oil prices, as hopes of a peace deal between the United States and Iran tempered inflation and rate-hike concerns.Spot gold gained 1.2% to $4,745.08 per ounce as of 1216 GMT, after rising to its highest level since April 23. U.S. gold futures for June delivery rose 1.3% to $4,754.20.“It’s all to do with oil prices, which, when they go down, tend to push up bond pr…
The dollar starts the day with a sharp setback and breaks the threshold of $900 in a day of widespread increases in world stock exchanges and the collapse of the price of oil due to expectations of a possible agreement between the United States and Iran to end the war in the Middle East. At the close of this note, its price stood at $894,45, corresponding to an increase of 1.61% over the price of the previous day.The US currency experienced a de…
The prospect of a reopening of the Strait of Ormuz, a bottleneck of 20% of the world's oil supply, led to a fall in crude oil prices on Wednesday.
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