Gold jumps 2% as revived US-Iran talks optimism weakens the dollar, despite seized Iran-linked ships ongoing blockade

From vtmarkets.com

Gold rose nearly 2% on Tuesday as hopes of renewed US-Iran talks weighed on the US Dollar. XAU/USD traded at $4,835 after rebounding from $4,742. The US military seized Iran-linked ships while the Strait of Hormuz blockade continued. US President Donald Trump indicated a possible Washington–Tehran meeting this week. The US Dollar Index (DXY) fell to a six-week low of 97.96 and was down 0.26% in the session. WTI crude dropped nearly 6.40% to $91.72 per barrel. Chicago Fed President Austan Goolsbee said rates might stay steady this year, with cuts in 2027 if energy prices keep inflation high. Governor Stephen Miran ... (full story)