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Gold prices rose on Thursday as investors returned to the precious metal following the announcement of a temporary peace agreement between the United States and Iran, although gains remained limited by expectations that the Federal Reserve could still tighten monetary policy later this year.

Spot gold climbed 0.3% to $4,269.42 an ounce by 05:46 ET (09:46 GMT), while gold futures were down 2.1% at $4,288.72 an ounce.

The recovery followed a sharp 1.7% decline in the previous session, when stronger Treasury yields and a firmer U.S. dollar weighed heavily on bullion markets.

U.S.-Iran Accord Boosts Market Confidence

Investor sentiment improved after Washington and Tehran agreed to a 14-point memorandum designed to reduce tensions and reopen key energy trade routes.

The agreement launches a 60-day negotiation period and includes provisions allowing unrestricted passage through the Strait of Hormuz, one of the world’s most important oil and gas shipping corridors.

Traffic through the waterway is expected to return to full capacity within 30 days under the framework of the deal.

The prospect of a smoother flow of energy supplies helped ease concerns over a prolonged disruption to global oil markets.

Gold Retains Its Defensive Appeal

Despite the improvement in geopolitical conditions, many investors continued to view gold as an important portfolio hedge.

While the agreement has reduced fears of an energy-driven inflation shock, uncertainty surrounding the broader economic outlook has supported demand for safe-haven assets.

The metal benefited from this balancing act, attracting buyers even as risk sentiment improved.

Fed Signals Keep Pressure on Precious Metals

Gold’s advance was restrained after the Federal Reserve maintained interest rates at 3.50%-3.75% and indicated that further policy tightening remains a possibility.

Updated forecasts revealed that nine of the central bank’s 19 policymakers now expect at least one rate increase in 2026.

The projections marked a notable shift from earlier expectations and reinforced the market’s view that inflation remains a key concern for officials.

Warsh Emphasizes Price Stability

Federal Reserve Chair Kevin Warsh adopted a firm tone during his first policy meeting at the helm of the central bank.

Warsh stressed the Fed’s commitment to restoring price stability and supported revised inflation forecasts that pointed to a slower path toward lower consumer price growth.

Those signals prompted investors to reduce expectations for future rate cuts and provided support for the U.S. dollar.

Dollar Strength Caps Further Gains

A stronger dollar tends to weigh on gold by increasing its cost for international buyers.

At the same time, higher interest rates raise the opportunity cost of holding non-interest-bearing assets such as bullion.

As a result, while geopolitical developments helped gold recover from recent losses, monetary policy concerns continued to limit the metal’s upside potential.

Oil prices fell sharply on Thursday, reaching their lowest levels since the early stages of the Iran conflict, as traders reacted to a preliminary agreement between Washington and Tehran that could pave the way for increased oil exports and the reopening of the Strait of Hormuz.

Brent crude futures declined by $1.59, or 2%, to $77.96 per barrel, while U.S. West Texas Intermediate crude dropped $1.83, or 2.38%, to $74.96 per barrel.

The move pushed Brent to its weakest level since March 2 and left WTI trading at its lowest point since March 4.

Markets Focus on Potential Supply Recovery

The latest decline reflects growing confidence that Iranian oil could return to global markets sooner than previously anticipated.

“The sell-off extended as energy markets continued to aggressively price in a faster-than-expected return of Iranian barrels following the recent U.S.-Iran memorandum of understanding,” IG market analyst Tony Sycamore said in a note.

The 14-point agreement launches a 60-day negotiation process and includes provisions to restore unrestricted passage through the Strait of Hormuz, a route that normally handles a significant share of global oil and liquefied natural gas shipments.

Traffic through the waterway is expected to return to full capacity within a month under the framework of the deal.

Agreement Leaves Key Questions Unanswered

Although the announcement has improved sentiment across energy markets, several major issues remain unresolved.

The accord postpones negotiations over Iran’s nuclear programme and requires the United States and its allies to develop a $300 billion package aimed at supporting Iran’s post-war recovery.

Even so, traders have welcomed the prospect of a reduction in supply disruptions that have driven oil prices higher in recent months.

Banks and Analysts Expect Gradual Normalisation

Market forecasts suggest that the recovery in exports will take place progressively rather than immediately.

Goldman Sachs expects energy exports from the Gulf region to return to pre-conflict levels by the end of July, with production normalisation likely to follow by October.

According to the bank, restoring flows through Hormuz could require an increase of around 13 million barrels per day from current levels.

Kpler analyst Matt Stanley said the market may have removed much of the geopolitical premium from crude prices but warned that conditions remain far from normal.

“Whilst it does seem the worst is behind us, things are quite a long way off from being normal,” he said.

Industry Leaders Urge Caution

Despite the recent decline, many analysts believe oil prices are unlikely to collapse.

International Monetary Fund Managing Director Kristalina Georgieva said countries are expected to rebuild inventories as trade routes reopen and economic activity stabilises.

International Energy Agency Executive Director Fatih Birol also stressed the importance of finalising negotiations within the agreed timeframe, having previously warned that prolonged disruption at the Strait of Hormuz could place the global economy in a “red zone.”

Interest Rate Concerns Add Another Headwind

Oil markets were also pressured by growing expectations that the U.S. Federal Reserve could raise interest rates later this year.

Higher borrowing costs could weigh on economic growth and reduce future energy consumption, adding to the downward pressure already facing crude markets.

As a result, investors continue to monitor both geopolitical developments and monetary policy signals for clues about the next direction of oil prices.

Wall Street futures traded higher on Thursday as investors weighed a more aggressive Federal Reserve outlook against easing geopolitical tensions following a newly signed peace agreement between the United States and Iran.

The rebound came after a difficult session for U.S. equities, where concerns over future interest rate increases overshadowed optimism surrounding developments in the Middle East.

Dow futures rose 0.6%, while S&P 500 and Nasdaq 100 futures gained 0.8% and 1.4%, respectively.

Fed Signals Inflation Fight Is Not Over

Markets came under pressure on Wednesday after the Federal Reserve left borrowing costs unchanged but indicated that additional tightening remains a possibility.

The central bank’s latest projections showed a growing number of policymakers expecting at least one rate increase before year-end, highlighting concerns that inflation could remain stubbornly elevated.

Federal Reserve Chair Kevin Warsh also outlined plans for a broad review of the institution’s operations, including inflation measurement, labour market analysis and communication practices.

A noticeably shorter policy statement accompanied the decision and placed particular emphasis on the Fed’s commitment to “deliver price stability.”

Investors interpreted the revised language as evidence that inflation control has become the dominant priority for policymakers.

Stephen Brown, Chief North America Economist at Capital Economics, said the central bank has left the possibility of a “hike as soon as September” firmly on the table.

Peace Accord Between U.S. and Iran Lifts Sentiment

Countering some of the concerns around monetary policy was news that Washington and Tehran had signed an agreement aimed at ending a conflict that has disrupted global energy markets for months.

The accord is expected to pave the way for the reopening of the Strait of Hormuz and a gradual return of Iranian oil exports, subject to the removal of U.S. sanctions.

President Donald Trump signed the agreement in Versailles on Wednesday and reportedly said he wanted to prevent an “economic catastrophe” stemming from prolonged instability.

Iranian President Masoud Pezeshkian also signed the accord, according to state media reports.

Although discussions surrounding Iran’s nuclear programme remain unresolved, markets viewed the development as a positive step toward reducing geopolitical risk.

Oil Prices Retreat Further

Crude prices continued to decline as traders anticipated the eventual return of Iranian supply to international markets.

Brent crude fell 2% to $77.97 per barrel, while West Texas Intermediate dropped 2.1% to $75.15.

Despite the recent weakness, analysts cautioned that prices could remain above pre-conflict levels as logistical and regulatory challenges may slow the restoration of normal export flows.

“Iran expects a swift lifting of U.S. oil sanctions, supporting a return of exports. However, uncertainty remains about how quickly flows can normalize, with ramp-up timelines dependent on operational, logistical and sanction-related adjustments,” analysts at ING said.

Apple Warns on Rising Costs

Apple (NASDAQ:AAPL) was also in focus after reports suggested the technology giant is preparing to increase prices across parts of its product range.

“Unfortunately, price increases are unavoidable,” CEO Tim Cook told The Wall Street Journal.

Cook cited rising component costs as a growing challenge for the company.

“We’re doing our best to mitigate the huge increases that are being passed to us […] but the situation has become unsustainable,” he said.

According to the report, Mac computers and iPads are likely to be among the first products affected by the planned pricing changes.

Delta Gold Technologies PLC (AQSE:DGQ) (USOTC:DGQTF) has moved into the second year of its quantum computing research partnership with the University of Toronto, building on recent intellectual property progress generated through the programme.

The technology company said work has now begun on the next phase of the project, titled A Scheme for Quantum Computing based on Proximatised Gold, which is being led by Principal Investigator Professor Harry Ruda. The programme focuses on the potential use of gold-based nanomaterials in future quantum computing applications.

The continuation of the collaboration follows the recent filing of a provisional patent by the University of Toronto arising from discoveries made during the first year of the research initiative. Delta announced the patent filing earlier this month and described it as an important milestone in the development of its growing quantum computing intellectual property portfolio.

Research Programme Enters New Phase

The launch of the second year extends Delta Gold’s existing sponsorship agreement with the University of Toronto and reflects the company’s strategy of partnering with leading academic institutions to advance proprietary technologies in the quantum computing sector.

Management believes the provisional patent filing provides early validation of the programme’s scientific progress and offers encouragement as research efforts move into a more advanced stage.

The company continues to focus on developing intellectual property centred on nanoscale gold and other advanced materials that could play a role in next-generation quantum computing systems.

CEO Highlights Intellectual Property Progress

R. Michael Jones, Chief Executive Officer of Delta, commented:

“Entering the second year of our agreement with the University of Toronto is a significant step for Delta Gold. The filing of the provisional patent by UofT highlights the progress already being made through this collaboration and strengthens our confidence in the potential of the research as we continue to build value from our quantum computing IP strategy. We also look forward to the opportunity for collaboration across universities including with Penn State in the USA.”

Expanding Academic Research Network

Alongside its work with the University of Toronto, Delta Gold maintains research relationships with Pennsylvania State University in the United States as part of its broader quantum computing development strategy.

The company said these partnerships provide access to specialist expertise in nanotechnology and quantum computing research while supporting the creation of commercially valuable intellectual property.

Delta’s current portfolio includes a provisional patent application generated through the University of Toronto programme, as well as three full patent applications filed through research conducted at Pennsylvania State University.

Management said the collaborative model remains central to its efforts to build a diversified intellectual property platform targeting opportunities in the rapidly evolving quantum computing industry.

More about Delta Gold Technologies

Delta Gold Technologies PLC is focused on developing intellectual property for the quantum computing sector, with research centred on nanoscale gold and other advanced materials. Through partnerships with leading universities in Canada and the United States, the company is pursuing innovations designed to support future quantum computing architectures while building a portfolio of proprietary technologies and patent assets.

Airbus (EU:AIR) moved higher on Thursday after Kepler Cheuvreux upgraded the aerospace manufacturer to Buy from Hold and increased its price target, pointing to improving industry conditions and a stronger outlook for the company.

Shares in the European aircraft maker gained 3.4% in Paris trading by 08:27 GMT as investors responded positively to the broker’s revised assessment.

Broker Sees More Supportive Environment

Kepler analyst Aymeric Poulain said the aerospace sector is benefiting from a more favourable macroeconomic backdrop, including expectations that the reopening of the Strait of Hormuz could help ease energy costs through lower oil prices.

“After several months of macro-driven hesitations, we upgrade Airbus to a Buy and raise our TP back to EUR212/share,” he wrote in a note, adding that deliveries are set to accelerate as supply-chain and production issues are now being managed and reflected in guidance.

The brokerage lifted its target price for Airbus to €212 from €196, reflecting growing confidence in the company’s production outlook and earnings potential.

Supply Chain Improvements Support Production Growth

Poulain highlighted recent comments from Boeing regarding its production plans as evidence that supply chain constraints across the aerospace industry are gradually easing.

He noted Boeing’s confidence in reaching a production rate of 52 Boeing 737 aircraft per month next year, alongside its willingness to target 70 aircraft per month over the medium term.

According to the analyst, these developments suggest suppliers are increasingly capable of supporting Airbus’s own production ramp-up plans.

Engine Dispute Remains Key Uncertainty

Despite the improving outlook, Kepler identified the ongoing issue involving Pratt & Whitney’s GTF engines as the main outstanding challenge facing Airbus.

Poulain described the situation as “the main unresolved but temporary issue” in Airbus’s production equation, and that a resolution could offer additional upside.

The analyst added that he currently sees no structural reason for Airbus to lower its 2026 guidance and believes the company retains several opportunities to improve profitability.

Delivery Growth Could Drive Further Gains

Kepler also pointed to potential margin expansion within Airbus’s commercial aircraft business, as well as opportunities within its Defence & Space division and broader balance sheet management.

Poulain said the expected acceleration in aircraft deliveries during the second half of the year could act as a catalyst for further share price appreciation.

The analyst believes stronger operational execution and rising deliveries could support a return to double-digit shareholder returns over the next 12 months.

Investors Focus on Production Momentum

The upgrade reflects growing optimism that Airbus is moving beyond many of the production and supply chain challenges that have constrained the aerospace industry in recent years.

With demand for new aircraft remaining robust and manufacturing conditions showing signs of improvement, investors will be closely watching delivery performance and production rates through the remainder of the year.

Shares in Informa (LSE:INF) moved higher after the events and academic publishing group reported solid trading across its core businesses during the opening months of 2026 and reiterated its expectations for double-digit growth in adjusted earnings per share for the full year.

The company reported underlying revenue growth of 6.4% for the first five months of the year, supported by continued strength in both its Academic Markets and B2B Live Events divisions.

Academic Publishing Continues to Deliver

Taylor & Francis, Informa’s academic publishing business, recorded underlying revenue growth of 5.5% during the period.

The performance was driven by ongoing demand for subscription-based content, open research products and advanced learning solutions.

Management said the division remains on course to achieve approximately 4% revenue growth for the full year, reflecting the resilience of its recurring revenue model and strong position within global academic publishing markets.

Live Events Business Maintains Strong Growth

Informa’s B2B Live Events division delivered underlying revenue growth of 7.6%, benefiting from robust activity across multiple geographic regions and industry sectors.

The company highlighted strong performances in the Americas, Greater China, ASEAN, Europe and IMEA markets, with healthcare, food, beauty and financial services events among the leading contributors to growth.

Management said event activity across these regions has remained resilient despite ongoing geopolitical uncertainty in certain markets.

Recovery Emerging in Previously Disrupted Markets

The group also reported improving conditions in regions that have been affected by recent conflicts and disruptions.

These markets account for roughly 10% of Informa’s B2B Live Events portfolio.

More than 15 event brands impacted by regional instability have now been rescheduled within the 2026 calendar year, while several planned launches have been postponed until 2027.

The company said these adjustments have helped preserve long-term growth opportunities while limiting disruption to customers and exhibitors.

Revenue Visibility Remains Strong

Informa highlighted the strength of its forward revenue profile, reporting that more than $4 billion of expected 2026 revenue has already been traded, contracted, booked or is otherwise visible through subscriptions and recurring arrangements.

The company also disclosed that more than $600 million of revenue relating to the first half of 2027 has already been secured or confirmed.

Management said this high level of visibility provides confidence in the group’s near-term outlook and supports ongoing investment in growth initiatives.

Outlook Reaffirmed

Looking ahead, Informa maintained its guidance for double-digit underlying growth in adjusted earnings per share during 2026.

The company also expressed confidence that growth will accelerate further in 2027 as its multi-year strategy to expand and scale its B2B growth platform continues to progress.

Management believes the combination of strong recurring revenues, global event brands and growing academic publishing operations positions the group well for continued expansion.

More about Informa

Informa plc is an international events, digital services and academic publishing company serving specialist markets around the world. Its portfolio includes the Taylor & Francis academic publishing business and a large network of B2B events across industries including healthcare, finance, technology, beauty and food. The group operates globally, generating revenues through subscriptions, exhibitions, conferences, digital services and research products.