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2026.04.1414:32:17UTC+00Gold Surges as Iran Talks Weaken Dollar, Ease Inflation Fears

Gold rose to $4,800 per ounce on Tuesday, its highest level since March 18, as progress in US–Iran negotiations pressured the dollar and sent oil prices below $100 a barrel, easing inflation worries. While weekend talks did not produce a deal and the Strait of Hormuz blockade went into effect, US officials indicated they plan to continue negotiations before the two-week ceasefire expires. The dollar slipped to a one-month low, and crude prices declined on hopes for a more durable agreement, tempering concerns about persistent inflation and further interest rate hikes. Markets are now pricing in nearly a 30% probability of a Federal Reserve rate cut this year. Even after the latest rally, however, gold remains about 10% below its pre-conflict level.

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