Gold climbs 2.7% as Iran peace talks pressure dollar
Gold rose 2.7% as President Trump signaled a potential peace deal with Iran. This move pressured the dollar and oil while markets await U.S. payroll data.
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Gold rose 2.7% to $4,680.91 on Wednesday morning as potential peace talks between the United States and Iran lowered oil prices. The price reached its highest level since April 28 after crude and the dollar retreated. U.S. gold futures for June delivery rose 2.7% to $4,693.20. Lower geopolitical risk reduces inflation hedging demand but improves gold's appeal as the dollar weakens against other currencies.
