15.04.202623:47:52UTC+00Gold Rises on US-Iran Diplomacy Hopes

Gold rose back above $4,800 an ounce on Thursday, recovering from the previous session’s losses as investors weighed the outlook for renewed negotiations and a potential long-term peace agreement between the US and Iran that could help ease inflationary pressures. Reports indicated that Washington and Tehran are considering extending their current two-week ceasefire to allow more time for talks, even as the Strait of Hormuz remains effectively closed under a dual blockade. Market focus is now turning to a possible second round of US–Iran discussions, expected to center on reopening the strait and addressing Iran’s nuclear enrichment program. Gold has found support in recent weeks as diplomatic progress in the Middle East has tempered concerns about inflation and further central bank tightening. Still, the metal remains almost 9% below its level at the outset of the conflict.