Gold rises on reports of US and Iran ceasefire deal
Spot gold edged up to $4,499.56 per ounce on Friday as investors reacted to a potential agreement between the U.S. and Iran to extend their ceasefire and lift shipping restrictions. While bullion recovered from a two-month low, gains remain capped by high inflation data and expectations for steady interest rates.
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Gold rose 0.2% to $4,499.56 per ounce on Friday morning as investors assessed reports of a United States-Iran ceasefire. Prices recovered from a two-month low of $4,360 hit on Thursday before the extension reports surfaced. April inflation rose at its fastest pace in three years, driven by higher energy prices tied to the Iran conflict.
