{chart} Gold gained upside momentum as traders focused on the strong sell-off in oil markets. Oil prices are down by -7.5% as traders react to progress in U.S. – Iran negotiations. President Trump said that talks were “proceeding nicely”, indicating that U.S. and Iran were moving towards a comprehensive peace deal. According to recent reports, Iran’s nuclear program and the status of the Strait of Hormuz remain the key points in negotiations. From a big picture point of view, traders bet that none of the sides has the desire to continue military operations, so they will have to work to reach a peace deal. The ... (full story)