Gold rises over 1% as dollar weakens and oil falls
Business
Gold prices climbed over 1% on Wednesday, mostly because the US dollar lost strength and oil prices dropped, making inflation less of a worry.
The boost also comes as the US and Iran seem closer to a peace deal, with a reported pause in military action in the Strait of Hormuz helping to calm things down.
Silver up 2.4% and platinum rises
It wasn't just gold: silver rose 2.4% and platinum was up too, showing investors are feeling more confident as global risks ease.
Meanwhile, the world's biggest gold fund (SPDR Gold Trust) kept its holdings steady at 1,040.66 metric tons, hinting that people still see gold as a safe bet even with tensions cooling off.
As US Secretary of State Marco Rubio put it, "we're not cheering for an additional situation to occur."