Gold gains as US-Iran peace hopes ease inflation concerns

article author: Reuters Author: By Ashitha Shivaprasad ID: 1778181621129047100 Thu, 2026-05-07 18: 20 Gold rose on ​Thursday on optimism over a potential US-Iran peace deal, easing concerns about inflation and prolonged higher interest rates, though gains were capped after a report said Tehran would not allow the reopening of the Strait of Hormuz. Spot gold was up 0. 3 percent at $4, 700. 98 per ounce, by 1: 53 p. m. EDT (1753 GMT), after hitting a two-week peak earlier in the session. US gold futures settled 0. 4 percent higher at $4, 710. 90. Main category: Business & Economy Tags: War in Iran Gold prices

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