U.S.-Iran cease-fire helps gold gain 1.5% to $4,322.41 per ounce
Business
Gold prices bounced back on Thursday, climbing 1.5% to $4,322.41 per ounce after a recent dip.
Other metals such as silver, platinum, and palladium also saw solid gains.
The boost came as oil prices slid following a temporary U.S.-Iran cease-fire deal.
Fed holds rates, signals possible hikes
The U.S.-Iran agreement extends the cease-fire for 60 days, giving both sides more time to talk peace. This helped push oil prices lower.
Meanwhile, the Federal Reserve kept interest rates steady but hinted at possible hikes later this year since inflation is still above its target.
That news shook up stock markets and strengthened the US dollar, making investors a bit uneasy about what's next.