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Oil slipped further while equities ralliedAuthor of the article: You can save this article by registering for free here. Or sign-in if you have an account.Trump said “we’ll see what happens” with Iran. Photo by Kent NISHIMURA /AFP via Getty ImagesGold advanced as optimism surrounding U.S.-Iran efforts to end the Middle East conflict eased bets on higher interest rates for longer.Enjoy the latest local, national and international news.Exclusive articles by Conrad Black, Barbara Kay and others. Plus, special edition NP Platformed and First Reading newsletters and virtual events.Unlimited online access to National Post.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles including the New York Times Crossword.Support local journalism.Enjoy the latest local, national and international news.Exclusive articles by Conrad Black, Barbara Kay and others. Plus, special edition NP Platformed and First Reading newsletters and virtual events.Unlimited online access to National Post.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles including the New York Times Crossword.Support local journalism.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorBullion gained as much as 1.6 per cent after U.S. President Donald Trump said the U.S. is in the “final stages” with Iran. The dollar and Treasury yields retreated, lifting gold as it’s priced in the U.S. currency and pays no interest. Oil slipped further while equities rallied.Trump said “we’ll see what happens” with Iran, adding that a deal will be made or “we’re going to do some things that are a little bit nasty, but hopefully that won’t happen,” according to a White House pool report.Columnist Jesse Kline keeps you up to date with what’s happening in Israel and the effects of antisemitism on life here in Canada. Friday mornings.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Channel Israel will soon be in your inbox.We encountered an issue signing you up. Please try againA potential end to the war and the reopening of the Strait of Hormuz would ease inflation concerns driven by elevated energy prices, potentially reducing expectations that global central banks will keep interest rates higher for longer to contain inflation. That would be positive for non-yielding bullion, which typically performs well in a lower-rate environment.Gold has traded in a narrow range since falling sharply in the early days of the Middle East conflict, as investors weigh higher rates against the prospect of a high-inflation, low-growth scenario, which they argue should benefit gold. Bullion is down about 14 per cent since the war erupted in late February.“The current environment highlights an increasingly important distinction between what traders are focusing on in the short term and what investors continue to monitor over the long term,” Ole Hansen, head of commodity strategy at Saxo Bank AS, said in a note.Spot gold rose one per cent at US$4,534.33 an ounce as of 1:07 p.m. in New York. Silver increased 3.1 per cent to US$76 an ounce. Platinum and palladium also gained. The Bloomberg Dollar Spot Index, a gauge of the U.S. currency, slipped 0.2 per cent.Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark nationalpost.com and sign up for our newsletters here. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. 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