Gold shines in the face of the dollar’s weakness and markets’ anticipation of developments between America and Iran

Gold prices rose today, supported by the weakness of the dollar, amid growing optimism about the possibility of reaching an agreement between the United States and Iran to end the war that led to higher energy prices and raised fears of worsening inflation.
Gold rose in instant transactions by 0.9 percent to $4,830.66 per ounce by 01:03 GMT.

US gold futures for June delivery increased 0.6 percent to $4,852.40.

The dollar hovered near its lowest level in more than a month, making commodities in which it is priced, such as gold, less expensive for holders of other currencies.

Yesterday, Wednesday, the administration of US President Donald Trump expressed its optimism about the possibility of reaching an agreement to end the war with Iran, but at the same time it warned of increasing economic pressure on Tehran if it continues its hard-line positions.

As for other precious metals, silver rose in spot transactions 1.4 percent to $80.17 per ounce, platinum increased 1.2 percent to $2,134.55, and palladium rose 1.1 percent to $1,590.14.