Gold (Spot) Price Surges 1.2% to $4,750 Amid U.S.-Iran Peace Talk Hopes

AI Summary

On Thursday, spot gold prices increased by 1.2% to $4,750 per ounce, influenced by speculation surrounding a potential U.S.-Iran peace deal. In 2025, gold and silver prices experienced significant rallies, with gains of 66% and 135% respectively. However, since the onset of the U.S.-Iran conflict on February 28, gold has faced challenges as it became significantly overbought, impacting its traditional safe-haven status. Market analysts believe that a peace agreement might relieve some volatility and allow the metals to consolidate and possibly rise further.