Gold Gains on Iran Talks Optimism With Fed Outlook in Focus

Gold advanced on optimism that the US and Iran are moving toward talks after days of deadlock, with traders also asessing the Federal Reserve’s interest rate path after the Justice Department dropped a probe of Chair Jerome Powell.

Bullion rose above $4,700 an ounce as bond yields fell after US Attorney Jeanine Pirro said she’s dropping her investigation into building-renovation cost overruns by the Fed.