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Asian market early session gold prices slightly rose as investors evaluate Iran's proposal to the United States
Golden Finance reports that on April 28th, during the Asian morning trading session, gold prices edged higher as investors assess a proposal from Iran to the United States. Spot gold rose 0.2% to $4,691.75 per ounce. Media citing informed officials reported that Iran has proposed to cease attacks in the Strait of Hormuz in exchange for a comprehensive end to the war and the lifting of U.S. sanctions on Iranian ports. However, U.S. President Trump and his national security team remain skeptical of the proposal. Abdelaziz Albogdady of FXEM stated in an email that this news led to a weakening of the dollar, providing some support for precious metals like gold. However, the market research and fintech strategy manager added, “Complex diplomatic signals, including setbacks in planned contacts, have undermined market confidence in gold prices.” (Sina Finance)