Jun 15, 2026 – 4.40pmGold traders are in for a nervy week, hoping that the peace deal between the United States and Iran that is set to be inked on Friday can spark a comeback for last year’s hottest trade after months of heavy selling.The yellow metal climbed 2 per cent to near $US4340 an ounce on Monday after the news of a tentative agreement between Washington and Tehran that US President Donald Trump said would reopen the key Strait of Hormuz, a choke point for a fifth of the world’s energy supply.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Space trade hype sends gold price crashing back to earth
Gold traders are nervously waiting to see if a peace deal between the US and Iran can spark a much-needed turnaround in the gold price as new headwinds loom.
TL;DRAI
A tentative US-Iran peace deal expected Friday could reopen the Strait of Hormuz, pushing gold to $4,340/oz (+2%). For CTO/IT leaders, geopolitical stability reduces energy volatility and capex predictability, critical for long-term infrastructure planning.
114 words~1 min read
