XAU/USD trades at $4,270, up 0.53%, as investors await confirmation of a potential Strait of Hormuz agreement between Iran and Oman.
Gold prices stabilized near a seven-week high Thursday, with XAU/USD trading at $4,270, a 0.53% gain, after briefly surpassing $4,300. The move follows a steadying US Dollar as markets monitor developments in the Strait of Hormuz.
Traders are awaiting confirmation of a possible Iran-Oman agreement, which could ease regional tensions and impact commodity flows. The metal’s recent rally reflects broader geopolitical uncertainties and dollar fluctuations.
No immediate market reaction was reported, though gold remains supported by safe-haven demand amid ongoing negotiations.