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Gold gains, poised for fourth straight weekly gain
Hopes for a U.S.-Iran peace deal eased inflation fears, while a weaker dollar and ETF inflows supported bullion prices.
- On Friday, gold held largely steady as hopes for a United States-Iran peace deal eased investor fears regarding inflation and elevated interest rates.
- Higher energy prices could stoke inflation and keep interest rates elevated, driving gold prices down more than 8% since the Iran war began in late February.
- Bullion-Backed exchange-traded funds added around 25 tons this month after cutting around 94 tons in March, signaling renewed buyer interest. Spot silver rose 0.9% and platinum gained 0.3%.
- Gold retreated from early gains after the Iranian Students News Agency reported Iran's planned Hormuz toll will be paid via Iranian banks, injecting further uncertainty into the Middle East.
- BMI, a unit of FitchSolutions, expects gold prices to remain supported above a firm floor of $3,500/oz, while central banks may increase buying as they shift away from the United States dollar.
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16 Articles
Times of IndiaReposted by 
The Economic Times
The Economic TimesGold eyes fourth weekly gain on hopes of US-Iran peace deal
Gold prices held steady, nearing a fourth weekly gain as hopes for a U.S.-Iran peace deal eased inflation and interest rate concerns. A ceasefire between Lebanon and Israel, coupled with potential weekend talks between the US and Iran, boosted optimism. Despite stable U.S. unemployment claims, employers remain cautious due to the ongoing conflict.
·India
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Coverage Details
Total News Sources16
Leaning Left1Leaning Right4Center2Last UpdatedBias Distribution57% Right
Bias Distribution
- 57% of the sources lean Right
57% Right
14%
C 29%
R 57%
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