Gold Rebounds to Daily Highs on June 26, But U.S.-Iran Deal Concerns Limit Gains

XAU1.00%

According to Jin10, gold climbed to daily highs from the 3,982-3,983 level on Friday morning, June 26, as U.S. dollar weakness from cooling Federal Reserve rate-hike expectations provided support.

However, gains remained limited due to renewed concerns over U.S.-Iran peace agreement sustainability. A reported attack by Iran's Revolutionary Guard Corps on a Singapore-flagged cargo ship in the Strait of Hormuz fueled geopolitical tensions, expected to cap dollar declines and exert downward pressure on gold prices.

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