Gold rises to $4,700 on US-Iran peace deal optimism
Gold prices rose to $4,700.98 as hopes for a US-Iran peace deal eased inflation concerns. Markets are monitoring the Strait of Hormuz and upcoming US jobs data.
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Gold rose 0.3% to $4,700.98 per ounce on Thursday afternoon as peace talks between the United States and Iran progressed. Prices hit a two-week peak before gains slowed after Tehran officials rejected plans to reopen the Strait of Hormuz. U.S. gold futures settled 0.4% higher at $4,710.90.
