Gold scaled nearly a three-week peak, as the U.S. dollar and oil prices fell after Washington and Tehran agreed to a two-week truce in their war, calming inflation worries. U.S. gold futures for June delivery settled 2% higher.
U.S. stocks closed sharply higher after a last-minute, two-week ceasefire agreement between the United States and Iran lifted investor sentiment. All three major U.S. stock indexes surged, muscled higher by a broad relief rally after a deal brokered by Pakistan resulted in a two-week suspension of the war.
Oil prices retreated in choppy trade, as investors awaited clarity on the status of indirect talks between the U.S. and Iran, wary about sustained supply losses due to shipping disruptions.
The U.S. dollar fell, while the yen flirted with the crucial 160 per dollar level, as investors took stock of the escalating Iran war, with all eyes on the latest deadline from U.S. President Donald Trump to reopen the Strait of Hormuz.
Michael Saylor’s Strategy, the world’s largest publicly listed holder of Bitcoin, resumed buying BTC last week after reporting no purchases in the final week of March. Strategy acquired 4,871 Bitcoin for $329.9 million last week, according to an 8-K filing with the US SEC.
Japanese Finance Minister Satsuki Katayama put currency traders on notice, saying the government stands ready to act against speculative moves in foreign exchange markets as volatility has risen “significantly.” The yen lingered at levels that have repeatedly stoked concerns of market intervention.
