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Gold Prices Rise, Investors Now Watch for US-Iran Peace Scenario
Gold prices climbed again above $4,800 per troy ounce on Thursday (16/4). Gold recovered from previous session losses as investors assessed the prospects of renegotiation and the potential for a long-term peace agreement between the US and Iran that could help ease inflation pressures.
As quoted by Tradingeconomics, Thursday (16/4), reports indicate Washington and Tehran are considering extending their two-week ceasefire to allow more time for talks, even though the Strait of Hormuz remains effectively closed under a double blockade.
Attention now shifts to the possibility of a second round of US-Iran discussions, which are expected to focus on reopening the strait and Iran’s nuclear enrichment program.
Gold has gained support in recent weeks due to diplomatic progress in the Middle East reducing concerns about inflation and potential central bank policy tightening. However, this precious metal remains nearly 9% lower since the conflict began.
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