Gold prices in global markets rose more than 2 percent at the start of the new week, an increase that was recorded after the announcement of an initial agreement between the United States and Iran to reduce tensions and end the conflict.
According to reports, the price of an ounce of spot gold increased by 2.5% to $4,322.87, its highest level since June 9, and US gold futures for August also increased to $4,344.80.
Analysts say that the depreciation of the US dollar and a more than 4% drop in oil prices were among the most important factors in the growth of gold prices. These developments occurred after the announcement of a framework agreement between Tehran and Washington regarding the end of the conflict, the lifting of the economic blockade, and the opening of the Strait of Hormuz.
An upward trend has also been observed in the market for other precious metals, with the prices of silver, platinum, and palladium each increasing by more than 3 percent.
Economic experts emphasize that the continuation of this trend will depend on the sustainability of the agreement between Iran and the United States, as well as future decisions by the US Federal Reserve regarding interest rates.
