XAU/USD: Gold Prices Soar Above $4,300 on US-Iran Peace Deal (But It Ain’t a Done Deal)

Gold Loves a Good Plot Twist

Gold exploded higher to kick off the week, jumping more than 2% and blasting through $4,320 per ounce after news emerged that the US and Iran had agreed on a peace framework. Apparently, even peace can spark a gold rally these days. Strange, right?
The agreement isn’t expected to be formally signed until Friday in Switzerland. That’s an eternity in market time, leaving traders wondering whether this is the start of a new chapter or merely an intermission.
The move extends a dramatic rebound from last week’s lows near $4,000 an ounce. That’s roughly a $300 recovery in a matter of days — the kind of price action that makes technical analysts excited and risk managers nervous.