Geopolitical tensions, concerns around inflation and lack of clarity on interest rates are reasons that keep gold in the spotlight

Gold rose and headed for a weekly gain as hopes of easing Iran conflict lifted sentiment, while softer oil and dollar eased inflation concerns.

Dollar fell for a second week as markets stayed cautiously optimistic over a US-Iran ceasefire, while strong US jobs data and risk appetite lifted currencies.

Gold recovers from early losses, rising on hopes of a breakthrough in Iran peace talks. Silver jumps 3%, while platinum and palladium also gain.

US dollar eased as markets tracked stalled US–Iran talks, rising oil prices, and key central bank meetings, including what may be Powell’s final Fed meeting.

The new levy replaces an expiring 10 percent surcharge, leaving the immediate rate broadly unchanged. Textiles, jewellery and shrimp remain exposed, while smartphones and most medicines are exempt.

The brokerage has revised its 2026 real GDP growth forecast to 6.8 percent, up from the 5.9 percent estimated immediately after the US-Iran conflict