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Gold rebounds from one-week low as Iran cites progress in peace talks

Gold prices rose on Monday, ending a three-session losing streak. The recovery followed reports of progress in peace talks between U.S. and Iranian officials in Switzerland. However, hawkish signals from the U.S. Federal Reserve continue to limit gains.

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Gold prices rebounded from a one-week low after Iran cited progress in peace talks with the U.S.

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  1. Gold Rebounds From One-Week Low Amid U.S.-Iran Peace Progress

    Gold prices rose on Monday, ending a three-session losing streak. The recovery followed reports of progress in peace talks between U.S. and Iranian officials in Switzerland. However, hawkish signals from the U.S. Federal Reserve continue to limit gains.

    What's confirmed:

    • Gold rebounded from a more than one-week low on Monday.
    • The first round of talks between high-ranking U.S. and Iranian officials in Switzerland ended on Monday.
    • The U.S. Federal Reserve indicated future interest rate hikes.
    • Gold was on track for its third straight weekly loss.
    • Spot gold fell to its lowest level since June 11 on Friday.

    Still unconfirmed:

    • Spot gold was up 0.8% at $4,194.99 per ounce as of 0608 GMT.
    • Spot gold was up 0.9% at $4,197.41 per ounce as of 0238 GMT.
    • U.S. gold futures for August delivery fell 0.8% to $4,213.10.
    • Gold prices surged over 1% due to easing U.S.-Iran tensions.
    confidence 90%