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macroJun 15, 2026, 3:08 AM

Gold Rallies Above $4,300 on US-Iran Peace Deal Hopes, Fed in Focus

Gold climbed above $4,300 early Monday, extending a recovery from year-to-date lows near $4,000, as a potential US-Iran peace deal boosted safe-haven demand. Traders now await the Federal Reserve's policy decision.

XAUUSD

Gold opened the new trading week with a sharp bullish gap, rising to its highest level in four days above $4,300. The rally builds on a recovery from the year-to-date lows near the $4,000 threshold that were hit last week.

The move higher is attributed to reports of a possible peace deal between the US and Iran, which has reduced geopolitical risk premiums and supported the precious metal. Market attention now turns to the Federal Reserve's upcoming monetary policy decision, which could provide further direction for XAU/USD.

At time of writing, spot gold remains elevated, sustaining gains above the $4,300 mark. The recovery in gold comes despite a generally stronger US dollar, highlighting the metal's safe-haven appeal amid shifting geopolitical dynamics.

Source: FXStreet Forex News