The US and Iran are expected to reach an agreement to boost market sentiment; gold rises for the third consecutive day.

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Golden Finance reports that on May 7th, Thursday, gold prices rose for the third consecutive trading day, as the US and Iran are expected to reach an agreement to ease market concerns over long-term inflation and high interest rates. KCM Trade Chief Market Analyst Tim Warter stated that supported by a weak dollar and falling oil prices, gold prices edged higher today. Although the current ceasefire agreement appears fragile, it is still holding, and market hopes for a more lasting long-term agreement between the US and Iran are also warming. However, the rally remains limited because traders are still cautious about how fragile the current pause situation is. Additionally, investors are currently awaiting the US monthly employment report released on Friday to observe whether the US economy still maintains enough resilience to allow the Federal Reserve to keep its current monetary policy unchanged. (Jin10)

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