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The Economic Times
The Economic Times
Business

Gold rises 2% after US, Iran reach peace deal

United States Gold Iran Inflation Oil Strait of Hormuz

Gold rose 2% on Monday after U.S. and Iran officials said they had reached a preliminary deal to end their conflict, pushing oil prices lower and easing concerns about inflation and higher interest rates.

Spot gold was up 2% at $4,304.11 per ounce, as of 0122 GMT, hitting its highest level since June 9. U.S. gold futures for August delivery ‌rose 2% ⁠to $4,325.20.

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