US Treasury lifts Iran sanctions as deal hopes gain momentum
On Wednesday, the US removed Iran-related sanctions, according to the US Treasury Department’s website. The US Treasury lifted sanctions imposed on two aircraft linked to the IRGC and three airlines.
The removal could signal a potential deal between the US and Iran, as negotiations continued to progress. Meanwhile, reports suggest that a deal between Oman and Iran is done, pending Tehran's approval.
Market’s reaction
Gold price jumped past the $4,200 level, gaining nearly 4%, hitting a 30-day high of $4,242, threatening to shift the bias from downward to neutral-upward. On its way towards the high of the day (HOD), XAU/USD cleared the 50-day Simple Moving Average (SMA) near $4,161, opening the door for a leg-up towards the current spot prices.
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