Optimism over US and Iran cease-fire boosts gold and silver
Gold and silver prices just got a boost, thanks to some optimism around possible cease-fire talks between the US and Iran.
Gold went up 0.65% to about $4,800 an ounce, while silver climbed nearly 1% to $76.49.
This rebound follows a recent dip, even with the US Navy blockading the Strait of Hormuz, hinting both countries might be leaning toward diplomacy.
Oil drops below $100 a barrel
Oil prices dropped below $100 a barrel, which is helping ease inflation worries and making things better for gold buyers.
Stocks are up, the dollar slipped slightly, and overall it's a friendlier scene for investments tied to the dollar.
Still, analysts are urging caution: Don't get too comfortable, they say.
The cease-fire isn't set in stone yet, and gold remains about 10% cheaper than since the war began in late February.