Goldholds its recovery momentum above $4,700 in the European session on Friday. Despite renewed hostilities in the Strait of Hormuz, investors seem hopeful over a potential US-Iran peace deal. This optimismtriggers a fresh leg down in Crude Oil prices, easing inflationary concerns and tempering bets for a more hawkish US Fed. Theoutlook keeps a lid on any further US Dollarappreciation, and turns out to be a key factor acting as a tailwind for the bullion.
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