(RTTNews) – Gold prices rose on Friday after a sharp bounce from a six-month low in the previous session.
Spot gold rose 0.3 percent to $4,223.34 an ounce while U.S. gold futures were up more than 3 percent at $4,244.47.
The dollar strengthened after falling in the previous session. US President Donald Trump said a “great deal” has been reached to end the conflict with Iran, and a signing ceremony could take place in Europe this weekend, with Vice President JD Vance attending on his behalf, after US President Donald Trump said treasury yields fell further amid easing inflation concerns.
Trump also said that after the Iran deal is signed, the Strait of Hormuz will officially reopen and that Iran will never have a nuclear weapon.
However, Tehran said no final deal has been approved and disputes over frozen funds and Strait of Hormuz security remain unresolved.
Iranian Foreign Ministry spokesman Esmail Baghai prematurely dismissed reports about the time and place of any potential agreement, making clear that Tehran would not make any compromise on what he described as its “red lines”. It was said that significant obstacles remain in the way of success.
Esmael Baqai said, “The relevant authorities must reach a final decision detailing the text of the understanding and any possible agreement. Once a final decision is reached, we will issue an official statement.”
Elsewhere, Israeli Prime Minister Benjamin Netanyahu said Israel is not party to the memorandum of understanding, while welcoming Trump’s assurances that a final agreement with Iran would include removing enriched material, dismantling enrichment infrastructure, limits on missile production and ending Iran’s support for its terrorist proxies in the region.
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