Gold Holds Gains as US-Iran Deal Eases Inflation Concerns
Gold price (XAU/USD) trades with mild gains during early Asian session after the US and Iran reached a comprehensive framework deal to end hostilities, reducing expectations for further Fed rate hikes.
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Gold extended its rally on Tuesday as a comprehensive framework agreement between the United States and Iran to end hostilities lowered market expectations of additional Federal Reserve rate hikes.
The precious metal edged higher in early Asian trading, building on recent gains. The easing of geopolitical tensions and reduced inflation fears supported demand for the safe-haven asset as traders recalibrated their Fed policy outlook.
Source: FXStreet Forex News