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Gold Rises by More than 3% Thanks to Peace Hopes in the Middle East and Dollar Decline

May 6, 2026AL24 | الاقتصادal24news.dzTranslated from Arabic
AL24 | الاقتصاد

Gold prices jumped by more than three percent on Wednesday, reaching their highest level in over a week, after the prospects of a peace agreement between the United States and Iran led to a decline in the dollar and oil prices, easing inflationary pressures that bolster expectations for higher interest rates to persist for a longer period. The price of gold in spot transactions rose 3.2 percent to $4703.09 per ounce by 0938 GMT, marking its highest levels since April 27. U.S. gold futures for June also rose 3.2 percent to $4714 per ounce.

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