U.S. and Iran Expected to Reach Agreement, Boosting Market Sentiment; Gold Rises for Third Consecutive Day

According to Golden Finance, on May 7th, Thursday, gold prices rose for the third consecutive trading day as the potential agreement between the U.S. and Iran eased market concerns over prolonged high inflation and interest rates. KCM Trade's Chief Market Analyst Tim Water stated that today's slight increase in gold prices was supported by a weaker dollar and a pullback in oil prices. Although the existing ceasefire agreement appears fragile, it remains in place, and hopes for a more enduring long-term agreement between the U.S. and Iran are rising. However, the upward momentum remains limited as traders remain cautious about how fragile the current pause in tensions truly is. Additionally, investors are now awaiting the release of the U.S. monthly employment report on Friday to assess whether the U.S. economy remains resilient enough for the Federal Reserve to maintain its current monetary policy unchanged. (Jin10)