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Gold jumps as dollar slips and Iran peace hopes spark a fresh rally
Economy
Published on 6 May 2026
A Hormuz pause shifted the dollar fast
Gold surged more than 1% as a weaker dollar and easing oil prices dialed back inflation fears. The move gained momentum from rising hopes of a U.S. Iran peace deal, after President Trump paused an operation near the Strait of Hormuz—cooling geopolitical tensions and boosting demand across precious metals.
- Gold rose over 1% on a weaker dollar
- Lower oil prices reduced inflation concerns
- Peace deal hopes with Iran fueled buying pressure
- A Hormuz pause eased tensions and moved markets
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times