The market is optimistic about the US-Iran peace agreement; gold prices are expected to achieve weekly gains.

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Golden Finance reports that on May 8th, boosted by easing concerns over inflation and interest rate hikes, gold prices rose on Friday and are expected to record weekly gains. Despite renewed clashes, investors remain optimistic about a peace agreement between the U.S. and Iran. Although there were further hostilities between the U.S. and Iran earlier, Iran stated that the situation has returned to normal, while the U.S. said it does not want the situation to escalate. Capital.com senior financial market analyst Kyle Rodda said that this morning’s statement from the Trump administration indicates that a ceasefire is still in place, and the market remains optimistic that the U.S. and Iran can reach an agreement, which currently supports gold prices. We can only wait for further news to see if the U.S. and Iran are close to reaching an agreement. In the period leading up to this week’s close, gold prices may experience some fluctuations. (Jin10)

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