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Gold climbs to more than one-week high on US-Iran peace deal hopes
Gold prices hit more than a one-week high on Wednesday following reports that the U.S. and Iran may be nearing a peace deal, cooling fears of higher inflation and an extended period of elevated interest rates. Spot gold was up 2.7% to $4,678.95 per ounc, after hitting its highest level since April 27 earlier in the session. U.S. gold futures rose 2.7% to $4,690.20. The U.S. dollar index fell 0.5%, making greenback-priced metals more affordable for other currency holders. “The optimism about a final deal between the U.S. and Iran has caused at least some short-term relief in gold, with lower oil prices, ... (full story)
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- May 6, 2026 5:05pm Posted byFundamental Analysis176
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