Key facts
- Gold prices held their gains.
- The US and Iran are nearing an interim peace deal.
- The deal aims to reopen the Strait of Hormuz.
- Concerns were raised by US hawks regarding economic benefits for Iran.
Gold prices held their gains as the United States and Iran prepared to sign an interim peace deal. This agreement is anticipated to ease global inflationary pressures that have stemmed from the ongoing war. The Trump administration announced the deal, which aims to reopen the Strait of Hormuz. However, some US hawks expressed concerns about the substantial economic benefits Iran is expected to gain from the agreement.