Singapore, 3 August 2026 – Gold gained in early Asian trading as renewed diplomatic engagement between the United States and Iran lowered immediate concerns over energy supplies, easing inflation expectations and reducing pressure on the Federal Reserve to raise interest rates.
Bullion moved higher after the two countries prepared to resume negotiations covering energy-shipping arrangements and wider regional issues. The prospect of progress pushed crude oil prices lower, offering investors some relief after elevated energy costs had threatened to keep global inflation higher for longer.
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