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Update: Gold Rises Again on Prospects the Iran War is Nearing an End

(Updates prices.)Gold rose for a third-straight session midafternoon Thursday on optimism a deal to end the war on Iran may be near, cutting into oil prices and pushing the dollar lower amid easing fears the supply shock around the war would boost inflation and force higher interest rates.Gold for June delivery was last seen up US$20.60 to US$4,714.00 per ounce, after rising by US$125,80 on Wednesday.The rise comes amid optimism the United States and Iran are closer to a peace deal. The Wall Street Journal reported the two countries are working with mediators to come up with a framework to resume negotiations, with talks in Pakistan beginning as soon as next week on a 14-point memorandum of understanding offered by the Trump Administration.Traders have been cautious about turning to gold as a safe haven during the economic turmoil that followed Iran's blockade of the Strait of Hormuz, blocking exports from Persian Gulf nations that supplied 20% of global oil demand. The high oil prices that followed the Feb. 28 start to the war has boosted inflation, heightening worries central banks will raise rates to slow demand, concerns eased by the prospect of talks that could bring an end to hostilities."Gold's reaction to ceasefire optimism yesterday reinforces our view that the underpinnings for gold remain intact and increases our conviction in our long-held call for gold to trade mostly in the $4500-5000/oz range this year," Christopher Louney, a gold and natural gas strategist at RBC Capital Markets, wrote.The dollar edged higher, with the ICE dollar index up 0.0 points to 98.11. Treasury yields rose, with the yield on the U.S. two-year note last seen up 4.9 basis points to 3.919%, while the 10-year note was paying 4.393%, up 4.2 points.

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Gold Rises Again on Prospects the Iran War is Nearing an End

Gold rose for a third-straight session early Thursday on optimism a deal to end the war on Iran may be near, cutting into oil prices and pushing the dollar lower amid easing fears the supply shock around the war would boost inflation and force higher interest rates.Gold for June delivery was last seen up $61.70 to US$4,756.00 per barrel, after rising by US$125,80 on Wednesday.The rise comes amid optimism the United States and Iran are closer to a peace deal. The Wall Street Journal reported the two countries are working with mediators to come up with a framework to resume negotiations, with talks in Pakistan beginning as soon as next week on a 14-point memorandum of understanding offered by the Trump Administration.Traders have been cautious about turning to gold as a safe haven during the economic turmoil that followed Iran's blockade of the Strait of Hormuz, blocking exports from Persian Gulf nations that supplied 20% of global oil demand. The high oil prices that followed the Feb. 28 start to the war has boosted inflation, heightening worries central banks will raise rates to slow demand, concerns eased by the prospect of talks that could bring an end to hostilities."Gold's reaction to ceasefire optimism yesterday reinforces our view that the underpinnings for gold remain intact and increases our conviction in our long-held call for gold to trade mostly in the $4500-5000/oz range this year," Christopher Louney, a gold and natural gas strategist at RBC Capital Markets, wrote.The dollar fell early, with the ICE dollar index down 0.2 points to 97.82, the lowest since Feb.27. Treasury yields also eased, with the yield on the U.S. two-year note last seen down 3.1 basis points to 3.893%, while the 10-year note was paying 4.323%, down 2.8 points.

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Update: Gold Moves Higher as the Dollar and Yields Retreat Following Reports the Iran War May Be Near an End

(Updates prices.)Gold was higher midafternoon on Wednesday as the U.S. dollar and yields were sharply lower on reports Iran and the United States are closing in on a deal to end their war, while U.S. private-sector hiring surged last month.Gold for June delivery was last seen up US$122.50 to US$4,691.00 per ounce.The gain in the precious metal follows reports, later confirmed by U.S. President Trump, that Iran and the United States are close to a negotiated deal to end hostilities. In a social media post, Trump said the war "will be at an end" and the Strait of Hormuz will reopen to traffic if Iran agrees to a U.S. peace proposal.Oil traded sharply lower on expectations a deal would reopen the Strait of Hormuz, the chokepoint for 20% of daily oil supply from Persian Gulf nations, easing worries over rising inflation and higher interest rates due to the supply shock."Washington is shifting focus to reopening the strait amid foreign pressure and rising domestic opposition to the war," Saxo Bank noted.U.S. private sector hiring surged in April, with the ADP National Employment Report seeing a rise of 109,000 private-sector jobs last month, up from 61,000 in March and above expectations for a rise of 84,000 positions according to Marketwatch.The dollar was sharply lower early, with the ICE dollar index last seen down 0.39 points to 98.05. Treasury yields also fell, with the yield on the U.S. two-year note last seen down 7.4 basis points to 3.876%, while the 10-year note was paying 4.355%, down 7.4 points.

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Gold Moves Higher as USD and Yields Retreat Following Reports the Iran War May Be Near an End

Gold prices rose early Wednesday as the U.S. dollar and yields were sharply lower on reports Iran and the United States are closing in on a deal to end their war, while U.S. private-sector hiring surged last month.Gold for June delivery was last seen up $123.10 to US$4,691.60 per ounce.The gain in the precious metal follows reports, later confirmed by U.S. President Trump, that Iran and the United States are close to a negotiated deal to end hostilities. In a social media post, Trump said the war "will be at an end" and the Strait of Hormuz will reopen to traffic if Iran agrees to a U.S. peace proposal.Oil traded sharply lower on expectations a deal would reopen the Strait of Hormuz, the chokepoint for 20% of daily oil supply from Persian Gulf nations, easing worries over rising inflation and higher interest rates due to the supply shock."Washington is shifting focus to reopening the strait amid foreign pressure and rising domestic opposition to the war," Saxo Bank noted.U.S. private sector hiring surged in April, with the ADP National Employment Report seeing a rise of 109,000 private-sector jobs last month, up from 61,000 in March and above expectations for a rise of 84,000 positions according to Marketwatch.The dollar was sharply lower early, with the ICE dollar index last seen down 0.51 points to 97.93. Treasury yields also fell, with the yield on the U.S. two-year note last seen down 6.2 basis points to 3.888%, while the 10-year note was paying 4.364%, down 6.6 points.

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Update: Gold Rises As Treasury Yields Ease

(Updates prices.)Gold traded higher midafternoon on Tuesday, rising off a five-week low as treasury yields weakened.Gold for June delivery was last seen up US$35.60 to US$4,568.90 per ounce.The price of the metal has remained mostly rangebound for a month as the war on Iran has prompted some safe-haven demand for the metal, even as the higher oil prices that followed the start of the war on Iran is hiking inflation. The threat of higher interest rates because of rising prices is pushing up bond yields, bearish for the metal since it pays no interest."The benchmark US 10-year yield rose some seven basis points on the day Monday, closing just below 4.44% and therefore at the highest daily close since last July as traders eye the big round 4.50% level.," Saxo Bank wrote.However yields moderated early on Tuesday, with the U.S. two-year note last seen paying 3.944%, down 1.8 basis points, while the yield on the 10-year note was down 2.2 points to 4.42%. The dollar was higher, with the ICE dollar index last seen up 0.04 points to 98.42.

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Gold Rises Early As Treasury Yields Ease

Gold prices rose off a five-week low early Tuesday as treasury yields eased off a 10-month high.Gold for June delivery was last seen up $44.70 to US$4,578.00 per ounce.The price of the metal has remained mostly rangebound for a month as the war on Iran has prompted some safe-haven demand for the metal, even as the higher oil prices that followed the start of the war on Iran is hiking inflation. The threat of higher interest rates because of rising prices is pushing up bond yields, bearish for the metal since it pays no interest."The benchmark US 10-year yield rose some seven basis points on the day Monday, closing just below 4.44% and therefore at the highest daily close since last July as traders eye the big round 4.50% level.," Saxo Bank wrote.However yields moderated early on Tuesday, with the U.S. two-year note last seen paying 3.94%, down 2.2 basis points, while the yield on the 10-year note was down 1.8 points to 4.423%. The dollar was higher, with the ICE dollar index last seen up 0.12 points to 98.49.

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Update: Gold Falls as the Dollar and Yields Climb

(Updates prices.)Gold traded lower midafternoon Monday as the dollar and yields rose, forcing the precious metal below the tight range it has stuck within for the past month.Gold for June delivery was last seen down US$112.20 to US$4,533.20 per ounce, the lowest since March 27.The war on Iran has prompted some safe-haven demand for the metal, even as the higher oil prices that followed the start of the war on Iran is hiking inflation. This is raising concerns higher interest rates are on the way, which is bearish for the metal since it pays no interest."Gold remains supported by safe-haven demand as investors continue to watch the Middle East conflict, oil prices, and the yen. Any durable easing in the Strait of Hormuz would likely cool demand for defensive assets, but until shipping flows normalise, gold should remain sensitive to geopolitical headlines and shifts in real yields," Saxo Bank noted.The dollar rose, with the ICE dollar index last seen up 0.2.9 points to 98.45. Treasury yields were sharply higher, with the U.S. two-year note last seen paying 3.975%, up 8.3 basis points, while the yield on the 10-year note as up 7.0 points to 4.449%

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Gold Falls as the Dollar and Yields Climb, But Remains Rangebound

Gold traded lower early Monday as the dollar and yields rose, but the precious metal remains within the tight range it has stuck within for the past month.Gold for June delivery was last seen down $70.00 to US$4,575.50 per ounce.The metal has traded within a US$200 range since over the past month, as the war on Iran prompts safe-haven buying, even as the higher oil price that followed the start of the war on Iran is hiking inflation. This is raising concerns higher interest rates are on the way, which is bearish for the metal since it pays no interest."Gold remains supported by safe-haven demand as investors continue to watch the Middle East conflict, oil prices, and the yen. Any durable easing in the Strait of Hormuz would likely cool demand for defensive assets, but until shipping flows normalise, gold should remain sensitive to geopolitical headlines and shifts in real yields," Saxo Bank noted.The dollar rose early, with the ICE dollar index last seen 0.17 points to 98.33. Treasury yields also rose, with the U.S. two-year note last seen paying 3.925%, up 3.3 basis points, while the yield on the 10-year note as up 2.8 points to 4.407%

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Update: Gold Edges Higher, Remaining Rangebound, As Treasury Yields Rise

(Updates prices.)Gold edged higher midafternoon Friday but remained rangebound, even as the dollar and treasury yields rose while traders turn to bonds and also while the Iran War pushes up oil prices and boosts inflation and threatens higher interest rates.Gold for June delivery was last seen up US$12.80 to US$4,642.40 per ounce.The precious metal has traded within a narrow range over the past month as the Iran war remains deadlocked. Against this backdrop, U.S. data on Thursday showed the Federal Reserve's preferred inflation measure rose by 3.5% annualized in March, up from a 2.8% pace in February.While the Fed's policy committee declined to raise interest rates at the Wednesday end to its two-day policy meeting, it issued a hawkish outlook, with rates likely to rise to combat higher prices, keeping gold, which offers no interest, in check."Gold ended April little changed despite a late oil-driven wobble sparked by inflation and rate-hike concerns," Saxo Bank noted.The dollar rose, with the ICE dollar index last seen up 0.07 points to 98.13. Treasury yields rose, with the yield on the U.S. two-year note last seen up 1.5 basis points to 3.888%, while the 10-year note last seen paying 4.38%, up 0.5 points.

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Gold Edges Down Early, Remaining Rangebound, As Treasury Yields Rise

Gold edged lower early Friday, albeit it remained rangebound, even with a weakening dollar as treasury yields rose while traders turn to bonds and also while the Iran War pushes up oil prices and boosts inflation and threatens higher interest rates.Gold for June delivery was last seen down $20.20 to US$4,609.40 per ounce.The precious metal has traded within a narrow range over the past month as the Iran war remains deadlocked. Against this backdrop, U.S. data on Thursday showed the Federal Reserve's preferred inflation measure rose by 3.5% annualized in March, up from a 2.8% pace in February.While the Fed's policy committee declined to raise interest rates at the Wednesday end to its two-day policy committee, it issued a hawkish outlook, with rates likely to rise to combat higher prices, keeping gold, which offers no interest, in check."Gold ended April little changed despite a late oil-driven wobble sparked by inflation and rate-hike concerns," Saxo Bank noted.The dollar fell early, with the ICE dollar index last seen down 0.14 points to 97.92, the lowest since the start of the war on Iran. Treasury yields rose, with the yield on the U.S. two-year note last seen up 2.7 basis points to 3.9%, while the 10-year note last seen paying 4.393%, up 1.8 points.

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Update: Gold Rises as the Dollar and Yields Fall After a Report Showed U.S. Inflation Continues to Run Hot

(Updates prices.)Gold traded higher midafternoon Thursday as the dollar dropped after a report showed a key U.S. inflation measure rose last month while first-quarter gross domestic product rose less than expected.Gold for June delivery was last seen up US$71.30 to US$4,632.80 per ounce, remaining within the US$200 range it has traded within for the past month.The U.S. Bureau of Economic Analysis reported the March Personal Consumption Expenditures (PCE) Index, the Federal Reserve's preferred inflation measure, rose 0.7% in March from the prior month, up from 0.4% fin February, but matching expectations according to Marketwatch. Core PCE, excluding volatile food and energy, rose 3.2% annualized, up from 3.0% in February and again matching expectations.The bureau also issued its first estimate of first-quarter U.S. GDP growth, reporting the measure rose at a 2.0% pace, up from 0.5% in the prior quarter and under expectations for a 2.2% rise.Gold's gain comes despite expectations higher interest rates are on the way as the war on Iran pushes up inflation. The Federal Reserve's policy committee on Wednesday ended its two-day meeting on Wednesday leaving rates unchanged, but signaled hikes may be on the horizon as inflation climbs."Gold has attracted fresh demand despite rising bond yields and a firmer dollar following Wednesday's FOMC meeting, where rates were left unchanged, but several members signalled a desire to remove the easing bias as the Iran war continues to cloud the economic outlook," Saxo Bank wrote.Still, the dollar was sharply lower early following the economic data, with the ICE dollar index last seen down 0.81 points to 98.15. Treasury yields also fell, with the yield on the U.S. two-year note last seen down 7.1 basis points to 3.894%, while the 10-year note was paying 4.397%, down 3.7 points.

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Gold Rises as the Dollar and Yields Fall After a Report Showed U.S. Inflation Continues to Run Hot

Gold rose early Thursday as the dollar dropped after a report showed a key U.S. inflation measure rose last month while first-quarter gross domestic product rose less than expected.Gold for June delivery was last seen up $85.70 to US$4,647.20 per ounce, remaining within the US$200 range it has traded within for the past month.The U.S. Bureau of Economic Analysis reported the March Personal Consumption Expenditures (PCE) Index, the Federal Reserve's preferred inflation measure, rose 0.7% in March from the prior month, up from 0.4% fin February, but matching expectations according to Marketwatch. Core PCE, excluding volatile food and energy, rose 3.2% annualized, up from 3.0% in February and again matching expectations.The bureau also issued its first estimate of first-quarter U.S. GDP growth, reporting the measure rose at a 2.0% pace, up from 0.5% in the prior quarter and under expectations for a 2.2% rise.Gold's gain comes despite expectations higher interest rates are on the way as the war on Iran pushes up inflation. The Federal Reserve's policy committee on Wednesday ended its two-day meeting on Wednesday leaving rates unchanged, but signaled hikes may be on the horizon as inflation climbs."Gold has attracted fresh demand despite rising bond yields and a firmer dollar following Wednesday's FOMC meeting, where rates were left unchanged, but several members signalled a desire to remove the easing bias as the Iran war continues to cloud the economic outlook," Saxo Bank wrote.Still, the dollar was sharply lower early following the economic data, with the ICE dollar index last seen down 0.5 points to 98.46. Treasury yields also fell, with the yield on the U.S. two-year note last seen down 6.5 basis points to 3.9%, while the 10-year note was paying 4.39%, down 4.4 points.

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Update: Gold Falls to a Month Low as Rising Energy Costs Expected to Boost Inflation

(Updates prices.)Gold traded lower for a third-straight day early Wednesday, pressured by inflation worries even as the Federal Reserve's policy committee is expected to leave rates unchanged when it ends its two-day meeting this afternoon.Gold for June delivery was last seen down US$50.40 to US$4,558.00 per ounce, the lowest since March 30.With oil trading near four-year highs amid the Iran war, traders have moved away from gold as a safe haven, turning instead to the dollar and bonds to hedge against the threat rising energy prices will boost inflation and force interest rates higher."With oil-led inflation risks remaining the main driver, as rising energy prices strengthen the dollar and reinforce a higher-for-longer interest rate outlook. For now, the market's immediate focus remains on mediation efforts, with a reopening of the strait and a subsequent drop in oil prices representing the biggest short-term upside catalyst for both gold and silver," Saxo Bank noted.But higher rates are not yet on the way. The Federal Open Market Committee and the Bank of Canada will both release interest-rate decisions today and both are expected to leave rates steady.The dollar was higher, with the ICE dollar index last seen up 0.25 points to 98.89. Treasury yields also moved up, with the U.S. two-year note last seen paying 3.918%, up 6.8 basis points, while the yield on the 10-year note was up 4.7 points to 4.4%.

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Gold Falls to a Month Low as Rising Energy Costs Expected to Boost Inflation

Gold traded lower for a third-straight day early Wednesday, pressured by inflation worries even as the Federal Reserve's policy committee is expected to leave rates unchanged when it ends its two-day meeting this afternoon. Gold for June delivery was last seen down $33.30 to US$4,575.10 per ounce, the lowest since March 30.With oil trading near four-year highs amid the Iran war, traders have moved away from gold as a safe haven, turning instead to the dollar and bonds to hedge against the threat rising energy prices will boost inflation and force interest rates higher."With oil-led inflation risks remaining the main driver, as rising energy prices strengthen the dollar and reinforce a higher-for-longer interest rate outlook. For now, the market's immediate focus remains on mediation efforts, with a reopening of the strait and a subsequent drop in oil prices representing the biggest short-term upside catalyst for both gold and silver," Saxo Bank noted.But higher rates are not yet on the way. The Federal Open Market Committee and the Bank of Canada will both release interest-rate decisions today and both are expected to leave rates steady.The dollar was higher early, with the ICE dollar index last seen up 0.09 points to 98.73. Treasury yields also moved up, with the U.S. two-year note last seen paying 3.879%, up 2.9 basis points, while the yield on the 10-year note was up 2.0 points to 4.373%.

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Update: Gold Falls to a Month Low as Surging Oil Prices Threaten to Hike Inflation and Stall Growth

(Updates prices.)Gold traded at a month low midafternoon Tuesday as rising oil prices threaten to boost inflation and raise interest rates, while the dollar and treasury yields moved higher.Gold for June delivery was last seen down US$82.80 to US$4,610.90 per ounce, the lowest since March 30.The drop comes as the Federal Reserve's Federal Open Market Committee begins its two-day meeting that ends with a decision on interest rates. While the committee is widely expected to leave rates unchanged, it comes as oil prices surge with the war on Iran choking off 20% of daily supply from Persian Gulf nations, boosting inflation while stalling global growth."The stagflationary impact of the energy crisis, combined with mounting fiscal debt concerns and an ongoing de-dollarisation trend, remains supportive over the longer term, with these drivers currently being overshadowed by the market's near-term focus on oil-driven inflation," Saxo Bank noted.The dollar roserly, with the ICE dollar index last seen up 0.12 points to 98.62. Treasury yields were also higher, bearish for gold since it pays no interest. The U.S. two-year note was last seen paying 3.85%, up 4.7 basis points, while the yield on the 10-year note was up 1.8 points to 4.363%.

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Gold Falls to a Month Low as Surging Oil Prices Threaten to Hike Inflation and Stall Growth

Gold traded at a month low early Tuesday as rising oil prices threaten to boost inflation and raise interest rates, while the dollar and treasury yields moved higher.Gold for June delivery was last seen down $99.60 to US$4,594.10 per ounce, the lowest since March 30.The drop comes as the Federal Reserve's Federal Open Market Committee begins its two-day meeting that ends with a decision on interest rates. While the committee is widely expected to leave rates unchanged, it comes as oil prices surge with the war on Iran choking off 20% of daily supply from Persian Gulf nations, boosting inflation while stalling global growth."The stagflationary impact of the energy crisis, combined with mounting fiscal debt concerns and an ongoing de-dollarisation trend, remains supportive over the longer term, with these drivers currently being overshadowed by the market's near-term focus on oil-driven inflation," Saxo Bank noted.The dollar rose early, with the ICE dollar index last seen up 0.24 points to 98.73. Treasury yields were also higher, bearish for gold since it pays no interest. The U.S. two-year note was last seen paying 3.844%, up 4.1 basis points, while the yield on the 10-year note was up 2.0 points to 4.365%.

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Update: Gold Lower Even as the Dollar Falls Ahead of This Week's U.S. Interest Rate Decision

(Updates prices.)Gold prices were down midafternoon Monday, remaining rangebound even as the dollar fell ahead of the Wednesday interest-rate announcement from the Federal Reserve.Gold for June delivery was last seen down US$42.60 to US$4,698.30 per ounce, remaining within the US$200 range it has been stuck in since the start of the war on Iran, as high oil prices raise concerns over higher inflation and threaten to boost interest rates.The Federal Open Market Committee (FOMC) will make its latest interest-rate decision at the Wednesday afternoon end to its two-day meeting. The CME FedWatch Tool sees a 100% probability the group will leave rates unchanged."Gold remains stuck in neutral within a broad USD 200 range around USD 4,750, with most intraday price action dictated by energy prices and the ebb and flow of headlines from the White House and the Middle East. The FOMC is widely expected to leave rates unchanged on Wednesday," Saxo Bank noted.The dollar was lower, with the ICE dollar index last seen down 0.09 points to 98.44. Treasury yields rose, with the yield on the two-year note up 2.1 basis points to 3.812%, while the 10-year note was paying 4.342%, up 3.5 points.

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Gold Eases Early Even as the Dollar Falls Ahead of This Week's U.S. Interest Rate Decision

Gold prices eased early on Monday, remaining rangebound even as the dollar fell ahead of the Wednesday interest-rate announcement from the Federal Reserve.Gold for June delivery was last seen down US$26.50 to US$4,714.40 per ounce, remaining within the US$200 range it has been stuck in since the start of the war on Iran, as high oil prices raise concerns over higher inflation and threaten to boost interest rates.The Federal Open Market Committee (FOMC) will make its latest interest-rate decision at the Wednesday afternoon end to its two-day meeting. The CME FedWatch Tool sees a 100% probability the group will leave rates unchanged."Gold remains stuck in neutral within a broad USD 200 range around USD 4,750, with most intraday price action dictated by energy prices and the ebb and flow of headlines from the White House and the Middle East. The FOMC is widely expected to leave rates unchanged on Wednesday," Saxo Bank noted.The dollar was lower early, with the ICE dollar index last seen down 0.28 points to 98.26. Treasury yields rose, with the yield on the two-year note up 1.0 basis points to 3.801%, while the 10-year note was paying 4.321%, up 1.3 points.

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Update: Gold Steady as the Dollar Eases on a Report Iran is Ready to Resume Talks With the U.S.

(Updates prices.)Gold was steady early on Friday as the dollar and yields eased following a report that Iran is ready to resume negotiations with the United States to end the war.Gold for May delivery was last seen up US$12.80 to US$4,76.80 per ounce.Bloomberg News reported Iranian Foreign Minister Abbas Araghchi and a team of negotiators are expected to arrive in Islamabad late on Friday. The Wall Street Journal said U.S negotiators Steve Witkoff and Jared Kushner will travel the Pakistan capital for the talks.A deal between the two nations would likely lower oil prices and ease fears the supply shock that followed the closure of the Strait of Hormuz would hike inflation and force central banks to raise interest rates. The threat of higher rates has pushed investors to the dollar and bonds, leaving gold rangebound. The metal has traded within a US$200 band since the start of the conflict.The dollar was lower, with the ICE dollar index last seen down 0.2 points to 98.57. Treasury yields were down, with the yield on the U.S. two-year note down 5.7 basis points to 3.789%, while the 10-year note was paying 4.312%, down 1.6 points.

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Gold Steady as the Dollar Eases on a Report Iran is Ready to Resume Talks With the U.S.

Gold was steady early on Friday as the dollar and yields eased following a report that Iran is ready to resume negotiations with the United States to end the war.Gold for May delivery was last seen up US$0.10 to US$4,724.10 per ounce.Bloomberg News reported Iranian Foreign Minister Abbas Araghchi and a team of negotiators are expected to arrive in Islamabad late on Friday for talks with a U.S. delegation already in place.A deal between the two nations would likely lower oil prices and ease fears the supply shock that followed the closure of the Strait of Hormuz would hike inflation and force central banks to raise interest rates. The threat of higher rates has pushed investors to the dollar and bonds, leaving gold rangebound. The metal has traded within a US$200 band since the start of the conflict.The dollar was lower early, with the ICE dollar index last seen down 0.12 points to 98.64. Treasury yields were little changed, with the yield on the U.S. two-year note down 0.6 basis points to 3.84%, while the 10-year note was paying 4.328%, down 0.3 points.

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