Gold rises as dollar weakens on US-Iran peace deal hopes
Gold rose to $4,701.19 as a weaker dollar and lower yields supported prices. Investors are focused on potential peace deal prospects between the US and Iran.
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Gold rose 0.3% to $4,701.19 per ounce Thursday as a weakening dollar and potential United States-Iran peace talks spurred buying. The metal hit its highest level since April 27 following a 3% surge during the previous session. Easing geopolitical tensions and lower Treasury yields are shifting the opportunity cost for bullion investors.
U.S. gold futures for June delivery rose 0.4% to $4,710, outpacing the spot gold gain.
