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Gold prices climbed to $4,800 per troy ounce, driven by optimism over potential US-Iran negotiations that could ease energy-related inflation risks. The local upward trend gained momentum as geopolitical tensions eased, with reports suggesting progress in talks between Washington and Tehran. Analysts highlight that reduced fears of a Middle East-driven energy crisis are supporting gold's appeal as a safe-haven asset.
For markets, this development signals continued demand for gold amid macroeconomic uncertainties. Traders are watching whether the US-Iran détente will lead to broader geopolitical stability, which could impact energy prices and inflation expectations. A sustained resolution might shift focus to other factors like the US dollar's strength and central bank policies.
Looking ahead, investors should monitor the trajectory of US-Iran negotiations and their implications for global energy markets. Additionally, central bank gold purchases and inflation data from major economies will be critical in determining the metal's near-term direction. Technical indicators suggest the $4,800 level could act as a key support/resistance zone.
