Gold extends gains after US, Iran reach peace deal

Oil and dollar fall; markets lower bets of US rate hikes

Gold rose more than 2% on Monday after U.S. and ‌Iran officials said they had reached an initial agreement to end their war, pushing oil prices lower and easing concerns about inflation and higher interest rates.
Spot gold climbed 2.5% to $4,322.87 per ounce by 0312 GMT, hitting its highest level ​since June 9 and extending gains for a third straight session. U.S. gold futures for ​August delivery rose 2.5% to $4,344.80.

Source: Reuters