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Gold reached a near three-week high after a US-Iran ceasefire deal.
Gold and silver prices surged after a US-Iran two-week ceasefire and Iran paused the Hormuz blockade.
KEY POINTS
- Oil prices dropped over 13% below $100, and the US dollar hit a monthly low after the ceasefire.
- Investor expectations for a US interest rate cut by year-end jumped from 14% to 43% in one day.
- UBS analysts now forecast gold could reach $5,900 per ounce by the end of the year.
- Silver's price gains are also supported by industrial demand from technology and energy sectors.
COMPANIES
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