Gold rose as signs that the US and Iran were closing in on a deal that would reopen the Strait of Hormuz tempered inflation concerns. Bullion was trading around US$4,564 an ounce, after falling 0.7 per cent on Friday (May 22). Negotiations on the precise language of the deal were ongoing and it may take several days for both sides to get final approval, US officials told reporters on Sunday. US President Donald Trump said on social media that he will not “rush” into an agreement. Earlier, US Secretary of State Marco Rubio had said that there may be “some good news” regarding Hormuz in the coming hours, as Iran and ... (full story)