Gold Rises 2% on US–Iran Peace Framework Easing Inflation Fears

Gold jumped about 2% after officials announced a framework to end the US–Iran conflict, with spot gold around $4,304 per ounce and August futures up about 2%, as a softer dollar and lower oil prices reduced inflation worries and cooled bets on further U.S. rate hikes. Silver, platinum and palladium also gained, and analysts cautioned that gold’s strength will depend on how durable the peace deal proves to be.