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)