Gold extends gains and moves above $4,750 an ounce as falling oil prices improve the outlook for precious metals. Optimism over a potential U.S.-Iran agreement to resume peace talks has boosted risk sentiment and eased concerns about further Federal

2026-05-07

Gold extends gains and moves above $4,750 an ounce as falling oil prices improve the outlook for precious metals. Optimism over a potential U.S.-Iran agreement to resume peace talks has boosted risk sentiment and eased concerns about further Federal Reserve rate hikes. MUFG’s Soojin Kim says lower oil prices and softer inflation worries have pushed bond yields and the dollar lower, supporting gold.