Gold prices continued their five-day upward trend on Wednesday, driven by increased optimism regarding a potential US-Iran peace agreement. This optimism has lessened fears of further interest rate hikes by the Federal Reserve. Investors are closely monitoring developments in the US-Iran negotiations for further clarity. Simultaneously, all eyes are on the upcoming Federal Reserve policy meeting, anticipating insights into the central bank’s future monetary policy. The expectation is that a de-escalation in geopolitical tensions could allow the Fed to maintain a more dovish stance. This combination of factors is currently supporting gold’s price increase as a safe-haven asset. Market participants are awaiting concrete details of any agreement and the Fed’s official announcements.