{"id":126844,"date":"2026-05-07T13:56:03","date_gmt":"2026-05-07T09:56:03","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=126844"},"modified":"2026-05-07T13:56:11","modified_gmt":"2026-05-07T09:56:11","slug":"gold-powers-higher-for-third-day-iran-peace-hopes-crush-inflation-fears-as-bullion-eyes-major-rally","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/gold-powers-higher-for-third-day-iran-peace-hopes-crush-inflation-fears-as-bullion-eyes-major-rally\/05\/07\/market-updates\/","title":{"rendered":"Gold Powers Higher for Third Day: Iran Peace Hopes Crush Inflation Fears as Bullion Eyes Major Rally"},"content":{"rendered":"\n<h1 class=\"wp-block-heading\"><\/h1>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Key Takeaways<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Gold extends rally:<\/strong> Spot gold rose 1% to $4,736.61 per ounce, while U.S. gold futures for June climbed 1.1% to $4,746.86 \u2014 building on Wednesday&#8217;s 3%+ surge.<\/li>\n\n\n\n<li><strong>Biggest daily jump since March:<\/strong> Wednesday&#8217;s surge marked the largest single-day gain in over a month.<\/li>\n\n\n\n<li><strong>Iran deal driving the rally:<\/strong> The White House is nearing a memorandum of understanding with Tehran to end the war, per Axios.<\/li>\n\n\n\n<li><strong>Trump optimism:<\/strong> The president said he believes Iran wants an agreement.<\/li>\n\n\n\n<li><strong>Oil collapse a tailwind:<\/strong> Crude prices plunged more than 7% on Wednesday, easing inflation fears that had been weighing on bullion.<\/li>\n\n\n\n<li><strong>Yields drop:<\/strong> U.S. Treasury yields and the dollar fell, boosting appetite for non-yielding gold.<\/li>\n\n\n\n<li><strong>ING&#8217;s take:<\/strong> &#8220;The potential easing in energy prices gives the Fed more room to cut rates, which is positive for gold.&#8221;<\/li>\n\n\n\n<li><strong>Dollar at pre-war levels:<\/strong> The DXY hovers near levels seen before the conflict erupted.<\/li>\n\n\n\n<li><strong>Jobs data Friday:<\/strong> Investors await April nonfarm payrolls for clues on the Fed&#8217;s rate path.<\/li>\n\n\n\n<li><strong>Silver soars:<\/strong> Silver prices jumped 1.9% to $78.79 per ounce.<\/li>\n\n\n\n<li><strong>Platinum gains:<\/strong> Platinum advanced 0.4% to $2,072.55 per ounce.<\/li>\n\n\n\n<li><strong>Copper steady:<\/strong> LME copper traded flat at $13,391.33 per ton.<\/li>\n<\/ul>\n\n\n\n<p>Gold prices climbed for the third consecutive session on Thursday, as growing hopes for a U.S.-Iran peace agreement eased some inflation concerns, while a weaker dollar also bolstered demand for the yellow metal.<\/p>\n\n\n\n<p>Spot gold rose 1% to $4,736.61 per ounce by 02:55 ET (06:55 GMT). U.S. gold futures for June advanced 1.1% to $4,746.86.<\/p>\n\n\n\n<p>The yellow metal climbed more than 3% on Wednesday \u2014 its biggest daily gain since late March \u2014 as oil prices tumbled sharply on expectations that tensions in the Middle East could begin to ease.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Gold Supported by U.S.-Iran Deal Hopes and Lower Oil Prices<\/h2>\n\n\n\n<p>Market sentiment improved after Axios reported that the White House was nearing a deal with Iran on a memorandum of understanding aimed at ending the conflict.<\/p>\n\n\n\n<p>Iran said it was reviewing the proposal, while U.S. President Donald Trump said he believed Tehran wanted an agreement.<\/p>\n\n\n\n<p>Oil prices had plunged more than 7% on Wednesday after reports of progress in negotiations, although crude steadied on Thursday as investors awaited further clarity on the talks.<\/p>\n\n\n\n<p>The prospect of lower energy prices helped reduce fears of a prolonged inflation shock, pulling U.S. Treasury yields and the dollar lower and boosting appetite for non-yielding bullion.<\/p>\n\n\n\n<p>&#8220;The potential easing in energy prices gives the Fed more room to cut rates, which is positive for gold,&#8221; ING analysts said in a research note.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Traders Await U.S. Jobs Data<\/h2>\n\n\n\n<p>The U.S. Dollar Index edged down 0.1% in Asian hours after slipping 0.4% overnight, hovering near pre-war levels.<\/p>\n\n\n\n<p>Investors are now awaiting Friday&#8217;s U.S. non-farm payrolls report for further clues on the Federal Reserve&#8217;s interest-rate path after recent comments from Fed officials highlighted concerns that the Middle East conflict could fuel inflation and disrupt supply chains.<\/p>\n\n\n\n<p>Among other precious metals, silver prices rose 1.9% to $78.79 per ounce, while platinum edged up 0.4% to $2,072.55 per ounce.<\/p>\n\n\n\n<p>Benchmark copper futures on the London Metal Exchange traded flat at $13,391.33 a ton, while U.S. copper futures were also muted at $6.20 a pound.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Gold extends rally: Spot gold rose 1% to $4,736.61 per ounce, while U.S. gold futures for June climbed 1.1% to $4,746.86 \u2014 building on Wednesday&#8217;s 3%+ surge. Biggest daily jump since March: Wednesday&#8217;s surge marked the largest single-day gain in over a month. Iran deal driving the rally: The White House is nearing &hellip;<\/p>\n","protected":false},"author":9,"featured_media":126805,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,6827,49,37,36],"tags":[],"class_list":["post-126844","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-daily-economic-reports","category-economic-reports","category-forex-markets","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/126844","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=126844"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/126844\/revisions"}],"predecessor-version":[{"id":126845,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/126844\/revisions\/126845"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/126805"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=126844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=126844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=126844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}