Gold recoups losses as oil prices fall on Iran deal

Spot gold rose 1.5 percent to $4,322.41 per ounce recovering from a 1.7 percent fall on Wednesday, as oil prices declined after the US and Iran released the text of an interim agreement extending their ceasefire by 60 days. US President Trump warned he could resume attacks if Iran does not honour its commitments. Separately, the US Federal Reserve held rates steady but nine of 19 policymakers now expect a rate hike this year as inflation remains above the 2 percent target. Spot silver climbed 2.2 percent, platinum gained 1.8 percent and palladium rose 2 percent.