Gold climbs more than 1% as oil drops on US-Iran interim peace deal

Oil falls on hopes of Strait of Hormuz reopening

Nine of 19 US policymakers believe ​need to raise rate this year

Gold rose more than 1% on Thursday, recouping losses from the previous session after Federal Reserve's hawkish signals, as drop in oil prices following a U.S.-Iran interim agreement dampened inflation expectations ​and provided support.
Spot gold was up 1.3% at $4,311.83 per ounce, as of 0441 ​GMT. Bullion declined 1.7% on Wednesday after the Fed pointed to a ⁠potential rate hike later this year.

Source: Reuters