Gold rises as Treasury yields slip on Iran peace hopes
Spot gold rose 0.3% to $4,494.50 per ounce as U.S. Treasury yields eased from recent highs amid optimism over potential progress in talks with Iran. While cooling inflation fears supported bullion, the market remains cautious as the Federal Reserve is expected to maintain current interest rates.
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Gold rose 0.3% to $4,494.50 per ounce on the morning of May 20 as U.S. Treasury yields retreated from recent peaks. Prices recovered from a seven-week low following reports of potential progress in diplomatic talks between the United States and Iran. A resolution could reopen the Strait of Hormuz, cooling the inflation fears that have driven recent rate hike bets.
