Gold Prices Rise on Optimism Over U.S.-Iran Peace Deal
Gold prices rose on Friday as investors remained optimistic about a U.S.-Iran peace deal. Markets now await U.S. jobs data to gauge future interest rate moves.
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Gold rose 0.7% to $4,719.85 on Friday, tracking toward a 2.3% weekly gain as geopolitical tensions eased. The United States and Iran signaled a month-long ceasefire remains intact despite recent skirmishes. U.S. gold futures for June delivery rose 0.4% to $4,728.30.
The United States and Iran exchanged fire on Thursday, marking the most serious test of their ceasefire to date. Tehran described the situation as normal, while Washington stated it does not seek escalation.
