Gold Surges 3% on Hopes of U.S.–Iran Peace Deal
Gold prices jumped sharply on Wednesday as renewed optimism over a potential peace agreement between the United States and Iran weighed on the US dollar and oil prices, boosting the appeal of the safe-haven metal.
Spot gold climbed 3% to $4,694.40 per ounce, while gold futures also gained 3% to $4,705.50 per ounce. The rally was supported by a weaker dollar and softer energy prices, both of which tend to strengthen demand for bullion.
Reports indicated that the White House is close to reaching a one-page memorandum of understanding with Iran aimed at ending the war. The document is expected to serve as a framework for more detailed negotiations over Iran’s nuclear program. Washington is reportedly awaiting Tehran’s response on several key points within the next two days.
Under the proposed arrangement, Iran would agree to a moratorium on nuclear enrichment, while the United States would lift sanctions and release billions of dollars in frozen Iranian funds. Restrictions in the Strait of Hormuz would also be eased, allowing the vital shipping route to reopen to global energy transit.
President Donald Trump later stated that if Iran agrees to the outlined terms, the conflict could come to an end and the blockade would be fully lifted, including access for Iran. His remarks reinforced market expectations that a diplomatic breakthrough may be within reach.
Source : Newsmaker.id
