Gold prices recorded a substantial increase of over 2% in global trading, driven by a sharp decline in oil prices and a weaker dollar, following the official announcement of a framework to end the conflict between the United States and
Iran and reopen the Strait of Hormuz. Spot gold advanced to surpass $4322 per ounce, while US gold futures rose similarly. The agreement contributed to a global oil price drop of over 4%, mitigating inflation fears and expectations of prolonged
high interest rates. Market analysts noted that the reduction in geopolitical risks and the lifting of the naval blockade provided strong support for the precious metal, emphasizing that the sustainability of these gains depends on the durability of the new
political understandings.
