Gold, silver surge after U.S.-Iran agreement eases West Asia tensions
Business
Gold just shot up by 2.24% (now $4,333.90 an ounce) and silver by 3.51% ($70.36 an ounce) after a U.S.-Iran agreement helped ease tensions in West Asia.
The US dollar got weaker, making these metals cheaper for international buyers, while falling oil prices calmed inflation worries.
Both moves gave gold and silver a boost.
Fed pause prospects buoy precious metals
Gold tends to do well when interest rates are low, and right now markets think the Fed might hold off on more hikes.
Silver's also getting love since it's used in technology like electronics and solar panels.
Still, analysts say things could get bumpy if West Asia heats up again or inflation stays stubborn, so keep an eye out if you're into precious metals.