Gold retakes $4,300 as US-Iran peace deal weighs on USD
Gold (XAU/USD) climbs back above the $4,300 mark during Asian trading as a US-Iran peace deal pressures the US Dollar following hawkish Fed commentary.
XAUUSD
Gold attracted fresh buying on Thursday, reclaiming the $4,300 level during the Asian session. The move was driven by a US-Iran peace deal that weakened the US Dollar, even as the Federal Reserve maintained a hawkish stance. The precious metal benefitted from the resulting shift in safe-haven flows and a softer greenback.
Traders are now assessing whether the peace deal will prompt a sustained rally or if renewed dollar strength from Fed policy will cap gains. The pair remains sensitive to geopolitical developments and monetary policy signals.
Source: FXStreet Forex News