Gold Surges 3% as US-Iran Deal Crushes Oil

Gold (XAU/USD) surged more than 3% on Monday following reports that the United States and Iran have reached an agreement to end their long-standing conflict. The deal is seen as easing geopolitical tensions and reducing inflationary pressures, which in turn weighed on oil prices.

At the time of writing, the precious metal was trading at $4,351, after bouncing off earlier daily lows. The sharp move higher reflects a flight to safe-haven assets amid expectations of lower energy costs and a potential shift in global risk sentiment.