Trump pauses military action against Iran, gold rises to $4,811.66
Business
Gold prices shot up after President Trump paused military action against Iran, following Iran's offer for diplomatic talks.
This move helped calm energy market fears and sent spot gold up 2.3% to $4,811.66 per ounce, with US gold futures also rising.
Pakistan brokers U.S.-Iran talks April 10
With Pakistan helping broker the pause, the stage is set for U.S.-Iran talks in Islamabad on April 10.
Silver saw a bigger bump, up 4.3%, and platinum and palladium also gained.
Metals trader Tai Wong pointed out that gold could face resistance around $5,000.
Research: US inflation could top 4%
Research suggests US inflation could top 4% by year's end due to ongoing energy price swings, making things tricky for central bankers as everyone waits for the Fed's next moves.