Gold Rises After US and Iran Agree Deal That Would Reopen Hormuz (opens original article in a new tab)

Gold prices increased following a US-Iran deal to ease tensions and reopen the Strait of Hormuz, reducing inflation concerns and affecting oil and currency markets.

• Gold rose 2.7% after US and Iran announced a deal to end hostilities and reopen the Strait of Hormuz
• The deal includes a 60-day negotiation period to dismantle Iran's nuclear program and sanctions relief for Iran's oil sales
• Brent crude oil fell over 4% as energy flows through Hormuz are expected to resume