Gold Rises on U.S.-Iran Deal, Fed Rate-Hike Signal

·

·

1–2 minutes

Summary

Gold rose as a U.S.-Iran peace deal supported prices, despite Fed signals pointing to tighter policy by October.

Why this matters

The story shows how geopolitical developments and central bank policy can move commodity prices in opposite directions. It matters for investors tracking gold, oil, inflation, and interest-rate expectations.

Gold rose after U.S., Iranian officials signed an interim peace agreement, even as the Federal Reserve signaled a possible rate increase later this year.

Bullion gained as much as 1.7% to $4,328 an ounce, reversing the previous session’s decline. Spot gold rose 1.6% to $4,322.83 an ounce as of 9:21 a.m. in Singapore. Silver gained 2.5% to $69.61 after falling 3% in the previous session. Platinum and palladium also rose. The Bloomberg Dollar Spot Index fell 0.2% after gaining 0.7% in the previous session.

The Fed left interest rates unchanged Wednesday, said it would deliver price stability, and removed a reference in its statement to additional rate adjustments.

  • Finland parliament backs lifting nuclear weapons ban

    If enacted, the legislation would allow nuclear weapons to be transported, supplied, or possessed in Finland where the country’s military defense requires it. The bill now goes to the president for final approval.

    Full story +

  • Colombia says 5 suspects killed after bus bombing

    The military action followed the April 26 attack in the municipality of Cajibío, where an explosive device detonated on a bus traveling on the Pan-American Highway in the Cauca region.

    Full story +

  • Russia says Ukraine hit school bus, Kyiv denies

    Ukraine has increased drone strikes on Russia in recent months as the war has continued.

    Full story +

  • Gold Rises on U.S.-Iran Deal, Fed Rate-Hike Signal

    Oil prices fell but it remained unclear how quickly fuel prices might fall and when shipping through the strait could return to pre-war levels.

    Full story +

  • Trump says Apple, Intel plan U.S. chip work

    Last year, the Trump administration took a 10% stake in Intel and announced plans to invest roughly $10 billion in the chipmaker to build or expand U.S. factories.

    Full story +

  • Oil prices fluctuate as U.S.-Iran deal nears

    West Texas Intermediate, the U.S. benchmark, also rose more than 1% to nearly $77 a barrel before easing to about $76.60.

    Full story +

  • Trump, Pezeshkian sign interim U.S.-Iran accord

    Tehran agreed to dilute its enriched uranium in exchange for economic relief.

    Full story +

  • States probe OpenAI over ChatGPT safety, data use

    Earlier this month that Florida Attorney General James Uthmeier sued OpenAI and Chief Executive Sam Altman, alleging they “ignored internal and external safety warnings, put children at great risk, and allowed a dangerous product to reach millions of Floridians.”

    Full story +

  • Reports link Fortinet breaches to reused credentials

    Recent campaigns targeting Fortinet devices generally exploited software vulnerabilities. In this case, the firms said attackers relied on leaked passwords.

    Full story +

  • Taiwan seeks quick approval of $14B U.S. arms sale

    Secretary of State Marco Rubio said earlier this month the proposed package was “under review.”

    Full story +