Zhongjin Wealth Futures: Trump says US-Iran dialogue is effective, Iran agrees not to possess nuclear weapons, affecting the gold market.

Trump said that the talks between the US and Iran in the past 24 hours have been very effective, and Iran has agreed not to possess nuclear weapons. It is possible that an agreement will be signed before his upcoming foreign trip next week. As a result, gold has reversed its recent weakness. Considering the huge differences in the negotiation goals between the US and Iran before, even if an agreement can be reached now, the time frame is still significant. The true decline in oil prices will have to wait until the Strait of Hormuz is completely open. Currently, it is difficult for gold to participate in this position and its value is not significant.