Gold rises as Trump cites Iran progress, dollar drops

Summary

Gold gained as Trump reported progress in Iran talks and a weaker dollar supported demand.

Why this matters

Gold prices remain closely tied to developments in the Strait of Hormuz, a key shipping route, and to expectations for U.S. interest rates. The moves matter for investors tracking inflation, currency shifts, and geopolitical risk.

Gold extended gains after President Donald Trump said progress had been made toward a final agreement with Iran, while the dollar weakened.

A dollar gauge fell 0.5%, making gold less expensive for many buyers.

In a social media post, Trump said “great progress” had been made with Iran and that he would pause a U.S.-led effort to help stranded ships leave the Strait of Hormuz to see whether an agreement could be finalized.

Defense Secretary Pete Hegseth said the truce that began just under a month ago was holding. Secretary of State Marco Rubio said offensive operations were over as Washington shifted to protecting shipping in the strait. Iranian Foreign Minister Abbas Araghchi said talks were “making progress.”

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