Spot gold price increased 1.2% to $4,562.00 per ounce by 05:32 ET (09:32 GMT).
Gold futures rose 0.9% to $4,596.51 per ounce.
Brent crude futures fell 5.0% to $95.23 per barrel, sliding below recent $100+ peaks.
The price moves followed reports that the United States and Iran have reached a framework to end their two‑month conflict, though details on the Strait of Hormuz remain unresolved.
Media reports suggest the agreement could lead to reopening the Strait of Hormuz, a key oil transit route handling about 20% of global oil shipments, and a possible U.S. lift of the naval blockade on Iranian ports.
Iranian foreign ministry spokesperson indicated Tehran will not levy tolls on vessels, though services will carry a price not labeled as tolls.
U.S. President Donald Trump warned his representatives not to rush into a deal and said the blockade will stay until a certified agreement is signed.
The dollar index weakened slightly, reducing the relative cost of gold for foreign buyers.
Analysts note that higher‑for‑longer interest rates, aimed at curbing energy‑driven inflation, could limit gold’s appeal despite the current rally.
