Gold Rises as Push for US-Iran Diplomacy Eases Inflation Risk

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Gold:Gold edged higher as a renewed push for a diplomatic resolution to the Iran war eased inflation concerns, despite continued tensions around the Strait of Hormuz.Bullion advanced beyond $4,810 an ounce, having lost 1.1% in the previous session. The US and Iran are considering a two-week ceasefire extension to allow more time to negotiate an end to the conflict that’s disrupted global markets, according to a person familiar with the matter. But the movement of vessels through Hormuz remains choked, with the US blockading Iranian ships and Tehran keeping the critical waterway closed to most other traffic.