Gold jumped as signs the US and Iran are closing in on a deal that would reopen the Strait of Hormuz tempered inflation concerns.
Bullion rose to around $4,575 an ounce, erasing a moderate loss from last week. Negotiations on the precise language of the deal were ongoing and it may take several days for both sides to get final approval, US officials told reporters on Sunday. President Donald Trump said on social media he won’t “rush” into an agreement.
