Gold rebounds as US-Iran peace deal boosts bullion

Gold climbed toward $4,400 an ounce on Monday, extending gains for a third straight session as a US-Iran peace agreement eased geopolitical concerns and weakened the dollar, boosting demand for precious metals. The deal, which is expected to reopen the Strait of Hormuz, improved market sentiment and supported a recovery in bullion prices. Silver led the rally, surging more than 4% in international markets, while MCX silver futures jumped nearly 3% to around Rs 2.53 lakh per kg. MCX August gold futures also rose almost 2%, reclaiming the Rs 1.5 lakh per 10 grams mark. Investors are now turning their attention to a crucial week for central banks, with the US Federal Reserve, Bank of England, Reserve Bank of Australia, and Bank of Japan all scheduled to announce policy decisions, which could shape the near-term outlook for precious metals.

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