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Gold climbs on US-Iran ceasefire as softer Dollar, Oil lend support
Gold (XAU/USD) advances on Wednesday, yet trades off a three-week high of $4,857 hit earlier in the day, as falling Oil prices weighed on the US Dollar, which weakened to a four-week low in the US Dollar Index (DXY). At the time of writing, the XAU/USD pair trades at $4,735, up more than 0.70%.Fxstreet
Wed, Apr 8
Gold: High carry costs now, $5,000 target later – TD Securities
TD Securities strategists argue that higher energy-linked inflation and delayed Fed cuts keep the opportunity cost of holding Gold elevated in the near term. They also flag the lack of Middle East capital as a downside catalyst.Fxstreet
Wed, Apr 8
Gold: Ceasefire rally driven by yields and rates – Commerzbank
Commerzbank’s Carsten Fritsch reports that Gold jumped up to 3% to USD 4,855 per ounce after the 14‑day Middle East ceasefire, behaving unlike a classic safe haven. The move is linked to lower Oil prices, reduced inflation risks and softer rate expectations, which have pushed bond yields down.Fxstreet
Wed, Apr 8
WTI Crude Oil steadies near $90.00 after a ceasefire-led sell-off
Crude prices tumbled on Wednesday after the announcement of a two-week ceasefire in the Iran war. The price of the US benchmark West Texas Intermediate (WTI) barrel plunged more than 15% from Tuesday’s highs above $106.00 to consolidate around $90.00 at the time of writing.WTI Nosedives Below $90 as Iran Reopens Hormuz for Two Weeks
West Texas Intermediate (WTI), futures on NYMEX, slide over 11% below $90.00 on Wednesday, as Iran has agreed to reopen the Strait of Hormuz, a critical passage to 20% of global energy supply, for two weeks in return for a temporary ceasefire with the United States (US).US President Donald Trump says 'big day for world peace' as attacks paused
US President Donald Trump said on a Truth Social post that Tuesday was “a big day for world peace.” Trump added that the US will be “helping with the traffic buildup” in the Strait of Hormuz and that “big money will be made” as Iran begins reconstruction.US, Iran to Start Negotiations in Islamabad Friday, Whether Ceasefire Can Continue Remains Uncertain
TradingKey - US-Iran negotiations regarding a ceasefire and the Strait of Hormuz have been put on the agenda following Trump’s announcement of a two-week suspension of bombing on Iran.TradingKey
Wed, Apr 8
Gold eases from three-week top, holds near $4,800 as US-Iran ceasefire pressures USD
Gold (XAU/USD) builds on the previous day's bounce from the $4,600 neighborhood and scales higher for the second straight day, hitting a nearly three-week peak during the Asian session on Wednesday.Fxstreet
Wed, Apr 8
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