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The Economic Times
The Economic Times
Business

Gold rises 1% as hopes for US-Iran diplomacy pause oil rally

United States Gold Iran Oil the Federal Reserve Inflation

Gold prices rose more than 1% on Tuesday as investors weighed diplomatic efforts to ease the U.S.-Iran conflict, which could temper oil-driven inflation risks and influence ‌the U.S. ⁠Federal Reserve's ⁠interest rate path.

Spot gold rose 1.6% to $4,071.59 per ounce by 0750 GMT. U.S. gold futures for August delivery were up 1.5% at $4,076.00.

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