"The session's biggest spark came from reports suggesting the U.S. is close to a one-page memorandum with Iran to end the war. Gold futures responded with an upward move and silver futures with a 6% jump."
"Counterintuitively, peace talk is helping bullion because it is dragging the dollar lower. The DXY eased 1%, which mechanically lifts dollar-priced metals and pulls in cross-border buyers."
"April's ADP report showed private payrolls growing by 109,000, comfortably ahead of the 84,000 Wall Street had anticipated and the strongest reading since early 2025."
Gold is climbing approximately 8% as buying increases in both bullion and mining equities. Spot gold is near $4,695 an ounce, while silver is up 5.5% to about $77. The rise is driven by geopolitical news, a softer dollar, and a shift in inflation outlook. Reports of a potential nuclear agreement between Washington and Tehran have led to a drop in crude oil prices, easing inflation pressures and influencing Fed policy expectations. This environment is prompting investors to favor gold and silver.
Read at 24/7 Wall St.
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