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Gold jumps after US removes Iran-related sanctions amid deal hopes
XAU/USD rose nearly 4% to a 30-day high of $4,242, after clearing the 50-day SMA near $4,161.
The US removed Iran-related sanctions, according to the US Treasury Department’s website, lifting restrictions on two aircraft linked to the Islamic Revolutionary Guard Corps and three airlines.
FXStreet reports the change could indicate progress toward a potential US-Iran deal, while separate reports say an Oman-Iran deal is completed, pending Tehran’s approval.
Against that backdrop, gold strengthened sharply, with XAU/USD jumping past the $4,200 level and reaching a 30-day high at $4,242, up nearly 4%.
The article adds that during the move, XAU/USD cleared the 50-day Simple Moving Average near $4,161, shifting the near-term bias from downward to neutral-upward.
Latest closeGold $4,133.60 ▲2.5%