Gold Rallies Above $4,350 on Monday, Up 3%, as U.S.-Iran Peace Deal Eases Oil Pressures

According to Kitco News, spot gold rallied above $4,350 per ounce early Monday during the North American trading session, up more than 3% on the day—its best daily performance since early February. The rally was driven by news that the U.S. and Iran will sign a peace deal on Friday, which pushed oil prices below $80 a barrel and eased inflation concerns. However, analysts caution that despite the recovery from last week's lows near $4,000, gold remains below its 200-day moving average around $4,450, signaling the recovery may be incomplete.
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