Precious metals markets witnessed a noticeable leap, with gold prices rising by more than 2%, hitting their highest levels following the announcement of a framework peace agreement to end the conflict between the United States and Iran. This rise coincided with a sharp decline in global oil prices and a drop in the dollar's value, amid market optimism regarding the lifting of the blockade on Tehran and the reopening of the strategic Strait of Hormuz. Economic experts explained that the easing of geopolitical tensions has mitigated concerns related to inflation and the continuation of tight monetary policies, providing a supportive environment for gold as a safe haven. Analysts noted that the sustainability of this recovery in gold markets and the stability of energy prices depend primarily on the commitment of the involved parties to implementing the agreement's terms and the resilience of the peace process in the upcoming period.
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Editor at Dijlah Point News, writing about Eco.